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please help with preparing a retained earnings statement Vaughn Design was founded by Thomas Grant in January 2016. Presented below is the adjusted trial balance
please help with preparing a retained earnings statement
Vaughn Design was founded by Thomas Grant in January 2016. Presented below is the adjusted trial balance as of December 31 . 2025. Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Interest Expense Depreciation Expense Supplies Expense Rent Expense 4,370 62,370 12,170 1,062 590 10,000 3,400 4,000$135,572 $135,572 VAUGHN DESIGN Income Statement For the Year Ended December 31, 2025 Revenues: Service Revenue $ 62370 Expenses Salaries and Wages Expense $ 12170 Insurance Expense 1062 Interest Expense \begin{tabular}{|l|l|} \hline 590 & 1 \\ \hline \end{tabular} Depreciation Expense 10000 Supplies Expense \begin{tabular}{|l|l|} \hline 10000 & i \\ \hline \end{tabular} Rent Expense \begin{tabular}{|l|l|} \hline 1 \\ \hline \end{tabular} Total Expenses ' 4000 62370 1062 i Prepare a retained earnings statement for the year ending December 31, 2025 Step by Step Solution
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