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Required Information Use the following Information for Exercises 25-27 below. (Algo) [The following information applies to the questions displayed below] Carmen Camry operates a
Required Information Use the following Information for Exercises 25-27 below. (Algo) [The following information applies to the questions displayed below] Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the company's records show the following selected accounts and amounts for the month of December. Cash Accounts receivable Office supplies Office equipment Land Accounts payable Common stock $ 25,480 Dividends 22,520 Consulting revenue 5,398 Rent expense 20,170 $ 6,140 27.140) 9.710 Salaries expense 5,730 1,030 12,020 Miscellaneous experises 640 101,800 44,150 Telephone expense: Exercise 2-26 (Algo) Preparing a statement of retained earnings LO P1 Use the above Information to prepare a December statement of retained earnings for Help Today. The Retained Earnings account balance at December 1 was $0. Hint: Net Income for December is $10,030. HELP TODAY Statement of Retained Earnings Retained earnings, December 11
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