Kimmel, Financial Accounting, 8e Help I System Announcements LINK TO TEXT (b) Prepare a retained earnings statement for August. (List items that increase retaine CULLUMBER COMPANY Retained Earnings Statement Open Show Work Click if you would like to Show Work for this question: SHOW LIST OF ACCOUNTS LINK TO TEXT Pdugeht/main.uni Kimmel, Financial Accounting, 8e Help I System Announcements Your answer is correct. Prepare an income statement for August. CULLUMBER COMPANY Income Statement For the Month Ended August 31, 2017 Revenues Service Revenue 10600 Rent Expense 890 Salaries and Wages Expense 2400 Utilities Expense 340 Total Expenses 3630 Net Income ! (Loss) 6970 Click if you would like to Show Work for this question: Open Show Work SHoW LIST OF ACCOUNTS INK TO TEXT Exercise 3-5 (Part Level Submission) A tabular analysis of the transactions made during August 2017 by Cullumber Company during its first month of operations is shown below. Each increu Assets Liabilities Stockholders' Equity Cash+ A/R+ Supp. Equip. - Accounts Payable + Common Stock + Retained Earnings Revenues Expenses- Dividends (1) $24,400 $24,400 Com. Stock (2) 1,160 $4,960 $3,800 -700 $700 (4) 4,300 $6,300 (5) 2,500 (6) 2,100 (7) 890 $10,600 Serv. Rev -2,500 -$2,100 Div -$890 Rent Exp. 0 370 (9) 2,400 (10) -2,400 -340 Sal. Exp. Util. Exp. 340 Your answer is correct. Prepare an income statement for August. CULLUMBER COMPANY Income Statement For the Month Ended August 31, 2017 10600 Service Revenue Expenses