Same financial and managerial book by John wild 9th Ed Exercise 2-25 Preparing an income statement P1 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. Use this information to prepare a December income statement for the business. Cash - $25,360 Accounts payable - $10,500 Salaries expense - $5,600 Accounts receivable 22,360 Common Stock 102,000 Telephone expense. 860 Office supplies 5,250 Dividend. 6,000 Miscellaneous expenses. 520 Office equipment 20,000 Consulting revenue 27,000 Land 44,000 Rent expense 9,550 Check Net income, $10,470 Exercise 2-26 Preparing a statement of retained earnings P1 Use the information in Exercise 2-25 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 $10,470. Exercise 2-27 Preparing a balance sheet P1 Use the information in Exercise 2-25 to prepare a December 31 balance sheet for Help Today. Hint: The ending Retained Earnings account balance as of December 31 is $4,470