Kimberly Young started her own consulting firm, Young Consulting Inc., on May 1, 2022. The following transactions occurred during the month of May. May 1 Stockholders invested $18,900 cash in the business in exchange for common stock 2. Paid $756 for office rent for the month. 3 Purchased $630 of supplies on account. 5 Paid $189 to advertise for the month in the County News, 9 Performed services for customer for $1,764 cash. 12 Paid $252 cash dividend. 15 Performed $5,292 of services on account, 17 Paid $3,150 for employee salaries, 20 Paid for the supplies purchased on account on May 3. Received a cash payment of $1,512 for services performed on account on May 15. 23 26 Borrowed $6,300 from the bank on a note payable. 29 Purchased office equipment for $2,520 paying $252 in cash and the balance on account. 30 Paid $236 for utilities. (12) Prepare a retained earnings statement for the month of May 2022. (List items that increase retained earnings first.) YOUNG CONSULTING INC. Retained Earnings Statement v $