On November 1 of the current year, Rob Elliot invested $30,000.00 of his cash to form acorporation, GGE Enterprises Inc., in exchange for shares of common stock. No other common stock was issued during November or December. After a very successful first month of operations, the retained earnings as of November 30 were reported at $5,000.00. After all transactions have been entered into the accounting equation for the month of December, the ending balances for selected items on December 31 follow. On that date, the financial statements were prepared. The balance sheet reported total assets of $55,650.00 and total stockholders' equity of $38,000.00.

Cash ?

Supplies $8600

Land $16,500

Accounts Payable ?

Common Stock ?

Retained Earnings $5,000

Dividends $5,750

Fees Earned $26,750

Wages Expense $6,400

Rent Expense ?

Supplies Expense $4,650

Utilities Expense $1,265

Misc Expense $460

What is the retained earnings amount reported on Dec 31?

How much is owed to creditors?

How much did retained earnings increase/decrease during the period?

What is the amount of profit or loss during December?

What were the total expenses for December?

How much was paid for rent?