On August 1, 2016, Rafael Masey established Planet Realty, which completed the following transactions during the month:

Aug.	1	Rafael Masey transferred cash from a personal bankaccount to an account to be used for the business in exchange for common stock, $17,500.
	2	Purchased supplies on account, $2,300.
	3	Earned sales commissions, receiving cash, $13,300.
	4	Paid rent on office and equipment for the month, $3,000.
	5	Paid creditor on account, $1,150.
	6	Paid dividends, $1,800.
	7	Paid automobile expenses for month, $1,500, and miscellaneous expenses, $400.
	8	Paid office salaries, $2,800.
	9	Determined that the cost of supplies used was $1,050.

5.	Determine the increase or decrease in retained earnings for August. I need help with number 5! Please and thank you! *the answer is not $20,250*

4. Determine the following: a. Amount of total revenue recorded in the ledger $13,300.00 b. Amount of total expenses recorded in the ledger $8,750.00 c. Amount of net income for August. $4,550.00 5. Determine the increase or decrease in retained earnings for August. Points 3 3