Maria Gomez owns and manages a consulting firm called Accel, which began operations on December 1. She asks us to assist her with some financial reporting questions. On December 31, we are provided with a Tableau Dashboard that includes selected accounts and amounts for the month of December. Assets Liabilities $14,000 $12,000 Notes Payable $10,000 Unearned Revenue $8,000 56,000 $4,000 Accounts Payable $2,000 Equity SO Common Stock $9,200 Accounts Cash Equipment Notes Prepaid Supplies Receivable Receivable Insurance Dividends $4,000 ExpensesExpenses Advertising Expense Rent Expense Salaries Expense Utilities Expense Revenues Consulting Revenue Rental Revenue #tableau > k 1. Prepare an income statement for the month ended December 31. 2. Prepare a statement of retained earnings for the month ended December 31. The retained earnings account balance at December 1 was $0. Hint. Use the net income calculated in part 1. 3. Prepare a balance sheet as of December 31. Hint. Use the ending retained earnings balance calculated in part 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a balance sheet as of December 31. Hint: Use the ending retained earnings balance calculated in part 2.1. Prepare an income statement for the month ended December 31. 2. Prepare a statement of retained earnings for the month ended December 31. The retained earnings account balance at December 1 was $0. Hint. Use the net income calculated in part 1. 3. Prepare a balance sheet as of December 31. Hint. Use the ending retained earnings balance calculated in part 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an income statement for the month ended December 31. ACCEL Income Statement For Month Ended December 31 Revenues Consulting revenue $ 34,000 Rental revenue 7,000 Total Revenues $ 41,000 Expenses Advertising expense $ 2,800 Rent expense 4,000 Salaries expense 6,000 Utilities expense 2.400 Total Expenses 15,200 $ 25,8001. Prepare an income statement for the month ended December 31. 2. Prepare a statement of retained earnings for the month ended December 31. The retained earnings account balance at December 1 was $0. Hint. Use the net income calculated in part 1. 3. Prepare a balance sheet as of December 31. Hint. Use the ending retained earnings balance calculated in part 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the month ended December 31. The retained earnings account balance at December 1 was $0. Hint: Use the net income calculated in part 1. ACCEL Statement of Retained Earnings For Month Ended December 31 Retained earnings, December 1 $ 0 Add: Net income 25,800 25,800 Less: Dividends 69 25,800ti}+ub|eau e a |e ea; L? 3:: 1. Prepare an income statement for the month ended December 31. 9. Prepare a statement of retained earnings for the month ended December 31. The retained earnings account balance at December'l was $0. Hint Use the net income calculated in part 1. 3. Prepare a balance sheet as of December 31. Hint Use the ending retained earnings balance calculated in part 2. Cowlelie this queslion by entering your answers in the hiss below. REQUirEd 3 Prepare a balance sheet as of December 31. Hint: Use the ending retained earnings balance calculated in part 2
