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Required: Accounts Payable $ 38,900 Entertainment Expense $ 10,000 Accounts Receivable 49,400 Prepaid Rent 15,400 Beginning Retained Earnings 800 Rent Expense 7,100 Capital Stock 49,500

Required: Accounts Payable $ 38,900 Entertainment Expense $ 10,000 Accounts Receivable 49,400 Prepaid Rent 15,400 Beginning Retained Earnings 800 Rent Expense 7,100 Capital Stock 49,500 Service Revenue 56,400 Cash 38,000 Supplies 16,300 Deferred Revenue 14,900 Supplies Expense 4,600 Dividends 16,100 Utilities Expense 3,600 Complete the statement of changes in retained earnings below. Hint: First compute net income. Turner Company Statement of Changes in Retained Earnings For Year Ended December 31 Beginning Retained Earnings Net Income (Choose one) Change in Retained Earnings Ending Retained Earnings $ 800 $ 0 0 $ 800

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