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Problem 2-7A (Algo) Preparing an income statement, statement of retained earnings, and balance sheet LO P1 Angela Lopez owns and manages a consulting firm called

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Problem 2-7A (Algo) Preparing an income statement, statement of retained earnings, and balance sheet LO P1 Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected accounts and amounts for the month of December Cash $10,600 Comon stock $ 16,500 Accounts receivable 4,500 Dividends 3.700 Notes receivable 3,860 Consulting revenue 18,500 office supplies 2,800 Rental revenue 1.800 Prepaid insurance 2.300 Salaries expense 4,100 Equipent 10,50 Rent expense 3,300 Accounts payable 5,460 Advertising expense 660 Hotek payable 3.700 Utilis expense 460 Unearned revenue 560 Required: 1. Prepare a December income statement for the business 2. Prepare a December statement of retained earnings. The Retained Earnings account balance at December was so 3. Prepare a December 31 balance sheet. Mint Use the Retained Earnings account balance calculated in part 2 Complete this question by entering your answers in the tabs below. Required Required 2 Required Prepare a December income statement for the business Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a December income statement for the business. METRIX Income Statement Rrallend Required 2 Complete this question by entering your answers in the tabs below. Required 1 Required2 Required 3 Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. METRIX Statement of Retained Earnings Retained earnings, December 1 $ 0 0 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2 METRIX Balance Sheet $ 0 $ 0 $ 0 (Required 2

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