Required information Use the following information for Exercises 16-18 below. [The following information applies to the questions displayed below.] Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the company's records show the following selected accounts and amounts for the month of August. Cash $ 25, 360 Dividends $ 6,000 Accounts receivable Office supplies 22, 360 Consulting fees earned 5, 250 Rent expense 27,000 9,550 Land 44,000 Salaries expense 5,600 Office equipment 20,000 Telephone expense Accounts payable Common stock 10, 500 Miscellaneous expenses 102,000 860 520 Exercise 2-17 Preparing a statement of retained earnings LO P3 Use the above information to prepare an August statement of retained earnings for Help Today. The Retained Earnings account balance at August 1 was $0. Hint: Net income for August is $10,470. HELP TODAY Statement of Retained Earnings 0 $ 0