R5

please prepare a statement of retained earnings for the question above in the formatt below

After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2019) follows. $ 19,164 11,115 2,545 2,100 3,260 8,000 20,000 * 0 0 101 Cash 106 Accounts receivable 126 Computer supplies 128 Prepaid Insurance Prepaid rent Office equipment 164 Accumulated depreciation office equipment 167 Computer equipment 168 Accumulated depreciation Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue 307 Common stock 318 Retained earnings 310 Dividends 403 Computer services revenue 612 Depreciation expense-office equipment 613 Depreciation expense-Computer equipment 623 Wages expense 637 Insurance expense 640 Rent expense 652 Computer supplies expense 655 Advertising expense 676 Mileage expense 677 Miscellaneous expenses 684 Repairs expense-Computer Totals 6,000 34,629 2,125 1,668 694 210 745 $ 99,629 $99,629 Business Solutions had the following transactions and events in December 2019. Dec 2 Paid $1,010 cash to Hillside Mall for Business Solutions share of mall advertising costs. 3. Paid $470 cash for minor repairs to the company's computer 4 Received $4,150 cash from Alex's Engineering Co. for the receivable from November 1,061 655 676 672 Advertising expense n Miscellaneous expenses Hepairs pense Computer Total 210 745 $ 99,629 $99,629 Business Solutions had the following transactions and events in December 2019. Dec. 2 Paid $1,010 cash to Hillside Mall for Business Solutions share of wall advertising costs. 3 Paid $470 cash for minor repairs to the company's computer. 4 Received $4,150 cash from Alex's Engineering Co. for the receivable from November 10 Paid cash to Lyn Addie for six days of work at the rate of $105 per day. 14 Notified by Alex's Engineering Co, that Business Solutions' bid of $7,600 on a proposed project has been accepted. Alex's paid a $1,900 cash advance to Business Solutions. 15 Purchased $2,1ee of computer supplies on credit from Harris Office Products. 16 Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8. 20 Completed a project for Liu Corporation and received $6,275 cash. 22- Took the week off for the holidays. 26 28 Received $3,000 cash from Gomer Co. on its receivable. 29 Reimbursed S. Rey for business automobile mileage (500 miles at 50.22 per mile). 31 The company paid $1,100 cash in dividends. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months. a. The December 31 Inventory count of computer supplies shows $590 still available. b. Three months have expired since the 12-month insurance premium was paid in advance. c. As of December 31. Lyn Addie has not been paid for four days of work at $105 per day. d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value. e. The office equipment acquired on October 1, is expected to have a five-year life with no salvage value. f. Three of the four months' prepaid rent have expired. Prepare a statement of retained earnings for the three months ended December 31, 2019. BUSINESS SOLUTIONS Statement of Retained Earnings For Three Months Ended December 31, 2019 Retained earnings, October 1, 2019 Retained earnings, December 31, 2019