Required information Use the following information for the Exercises 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 accounts and amounts for the month of August. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Dividends $ 25,360 Consulting fees earned 22, 360 Rent expense 5,250 Salaries expense 44,000 Telephone expense 20,000 Miscellaneous expenses 10,509 Common stock 6,000 $ 27,000 9,550 5,600 860 520 102,000 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. (Hint Net income for August is $10,470.) HELP TODAY Statement of Retained Earnings