Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each section of the statement, enter the accounts in Chart of Accounts order and the account balances. Then, calculate ending retained earnings. Enter any decreases using a minus sign or parentheses.

SMART TOUCH LEARNING
Adjusted Trial Balance
December 31, 2016
	Balance
Account Title	Debit	Credit
Cash	16,500
Accounts Receivable	9,100
Office Supplies	200
Prepaid Rent	11,000
Furniture	19,200
Accumulated Depreciation--Furniture		6,600
Accounts Payable		2,200
Salaries Payable		500
Interest Payable		300
Unearned Revenue		5,500
Notes Payable		7,700
Common Stock		10,700
Retained Earnings		11,000
Dividends	27,800
Service Revenue		49,700
Depreciation Expense--Furniture	2,200
Interest Expense	300
Rent Expense	3,300
Salaries Expense	3,800
Supplies Expense	800
Total	94,200	94,200

SMART TOUCH LEARNING
Income Statement
Month Ended December 31, 2016
Revenue:
Service Revenue		49,700
Expenses:
Depreciation Expense--Furniture	2,200
Interest Expense	300
Rent Expense	3,300
Salaries Expense	3,800
Supplies Expense	800
Total Expenses		10,400
Net Income		39,300

Adjusted Trial BalanceBalance SheetDecember 31, 2016Income StatementMonth Ended December 31, 2016SMART BOOKS LEARNINGSMART TOUCH LEARNINGStatement of Cash FlowsStatement of Retained EarningsUnadjusted Trial Balancecorrect
Adjusted Trial BalanceBalance SheetDecember 31, 2016Income StatementMonth Ended December 31, 2016SMART BOOKS LEARNINGSMART TOUCH LEARNINGStatement of Cash FlowsStatement of Retained EarningsUnadjusted Trial Balancecorrect
Adjusted Trial BalanceBalance SheetDecember 31, 2016Income StatementMonth Ended December 31, 2016SMART BOOKS LEARNINGSMART TOUCH LEARNINGStatement of Cash FlowsStatement of Retained EarningsUnadjusted Trial Balancecorrect
DividendsNet income for the monthRetained Earnings, December 1, 2016Retained Earnings, December 31, 2016correct		correct
DividendsNet income for the monthRetained Earnings, December 1, 2016Retained Earnings, December 31, 2016correct		correct
DividendsNet income for the monthRetained Earnings, December 1, 2016Retained Earnings, December 31, 2016correct
DividendsNet income for the monthRetained Earnings, December 1, 2016Retained Earnings, December 31, 2016correct