PROBLEM 4 The following selected income statement and balance sheet information is available for Xin Land Appraisers at the end of the current month: Supplies Accounts receivable Utilities expense Supplies expense Rent expense Cash 7,400 24,600 700 1,300 2,900 3,600 Accounts payable Salaries expense Appraisal fess earned Common stock Retained earnings (beginning) 4,500 15,000 31,000 15,000 5,000 a. Calculate the net income or net loss for the month. b. If stockholders made no additional investment during the month but received $6,000 as a dividend, what is the amount of retained earnings at the end of the month