On August 31, the balance sheet of Larkspur, Inc. showed Cash $10,000, Accounts Receivable $2,700, Supplies $600, Equipment $6,000, Accounts Payable $4,600, Common Stock $14,000, and Retained Earnings $700. During September, the following transactions occurred 1. Paid $2,350 cash for accounts payable due. 2. Collected $1,900 of accounts receivable. Purchased additional equipment for $1,750, paying $700 in cash and the balance on account 4. Recognized revenue of $8,800, of which $2,350 is collected in cash and the balance is due in October Declared and paid a $2,400 cash dividend. Paid salaries $2,250,rent for September $1,050, and advertising expense $100. Incurred utilities expense for month on account $320, Received $10,000 from Capital Bank on a 6-month note payable. 3. 5. 6. 7. 8. Prepare a retained earnings statement for September. (List items that increase retained earnings first.) Larkspur, Inc. Retained Earnings Statement