Income Prepare the statement of retained eaming. Enter ay Increases in retained earnings before the total and any decreases to retained eamings below the subtotal (Complete all answer boxes. Enter a wote Wu's Oy Automotive X Bent of Retained Earnings More Info Math Ended December 31, 2024 med mye ber 1.2024 Wation contributed $60,000 cath to the business in exchange for shares of common Dec 1 Det Purchmed $13,500 of equipment paying cash Dec 1 Paid 4.050 for a wine month nice policy swing on December 1 Dec Paid 125.000 cash to purchase and to be used in operation Dec 10 Puched office supplies on account. 12.00 that we wanting to December 31.9024. Bol - X More Info brany zero b ing Dec. 1 Walton contributed $60,000 cash to the business in exchange for shares of common stock Dec. 1 Purchased $13,500 of equipment paying cash Dec. 1 Paid $4,050 for a nine-month insurance policy starting on December 1. Dec. 9 Paid $25,000 cash to purchase land to be used in operations. Dec. 10 Purchased office supplies on account, $2,900, Dec. 19 Borrowed $30,000 from the bank for business use. Walton signed a note payable to the bank in the name of the corporation. The note is due in five years. Dec. 22 Paid $2,200 for advertising expenses. Dec. 26 Paid $1,200 on account Dec. 28 The business received a bill for utilities to be paid in January, $350 Dec. 31 Revenues earned during the month included $19,000 cash and $3,900 on account Dec. 31 Paid employees' salaries $3,900 and building rent $500. Record as a compound entry Dec. 31 The business received $1.090 for auto screening services to be performed next month. Dec. 31 Paid cash dividends of $6,000 to stockholders. Begin Print Done haining:00:20 Prepare the statement of retained earnings. Enter any increases in retained Walton's Quality Automotive Statement of Retained Earnings Month Ended December 31, 2024 Retained Eamings, December 1, 2024 Dividends mber 31, 2024. Begin by pre Expenses for the month imotive Net income for the month 24 Net loss for the month Issuance of common stock Revenues for the month transactions.) Dividends Expenses for the month ses in retained eaming Net income for the month Net loss for the month Issuance of common stock Revenues for the month Retained Earnings, December 31, 2024 Prepare the classified balance sheet in report form as of December 31, 2024. Begi Walton's Quality Automotive