On August 31, the balance sheet of Cheyenne Corp. showed cash $10,000

On August 31. the balance sheet of Cheyenne Corp. showed Cash $10,000. Accounts Receivable 52,700, Supplies 5600 Equipment $6,000, Accounts Payable $4600, Common Stock 514 100, and Retained Earnings $600. During September the following transactions occurred 1 Paid $2,750 cash for accounts payable due 2 3 4 Collected $1,300 of accounts receivable Purchased additional equipment for $1.950, paying $700 in cash and the balance on account Recognized revenue of $7,650, of which $2,250 is collected in cash and the balance is due in October Declared and paid a $2.400 cash dividend Pald salaries $2,550, rent for September $1,150, and advertising expense $150. Incurred utilities expense for month on account $190 5 6 7 8 Received 511.000 from Capital Bank on a 6-month note payable Prepare a retained earnings statement for the month of May. (Last items thot increase retained consi Pina Colada Corp Retained Earnings Statement $ Textbook and Media List of Accounts