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Tableau DA 2-3: Mini-Case, Preparing an income statement, statement of retained earnings, and balance sheet LO P3 Maria Gomez owns and manages a consulting firm called Accel, which began operations on December 1. She asks us to assist her wi some financial reporting questions On December 31 we are provided with a Tableau Dashboard that includes selected accounts ance amounts for the month of December Assets Liabilities $14,000 $12,000 Notes Payable $10,000 Unearne Revenue $9,000 -- $6,000 -- $4.000 - Accounts Payable 12,000 - Equity Dashboard Activities Srved Assets Liabilities $14,000 $12,000 tes Payable $10,000 Unear $8,000 -- $6,000 -- $4,000 Accounts Payable $2,000 -- Equity $0 Account: Receivable Equipment $9.200 Notes Prepaid Receivable Insurance Supplies Common Stock Dividendi $4.000 Expenses Advertising in Rent Experie Salaries 3 of 3 HI! Cup Expenses Rent Expense Salorles Expense Utilities Expense Revenues Consulting Revenue Rental Revenue tobloou 1. Prepare an income statement for the month ended December 31 2. Prepare a statement of retained earnings for the month ended December 31. The retained earnings account balan was $o. Hinc Use the net income calculated in part 1 3. Prepare a balance sheet as of December 31 Hint Use the ending retained earnings balance calculated in part 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the month ended December 31. The retained December 1 was $0. Hint: Use the net income calculated in part 1. 41 ACCEL Statement of Retained Earnings For Month Ended December 31 Retained earnings, December 1 $ Add: Net income ces 0 25,800 Less: Dividends 25,800 (4,000) Retained earnings, December 31 21,800 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Prepare a balance sheet as of December 31. Hint: Use the ending retained earnings balance calculated in Assets: Cash Supplies Accounts receivable Note receivable Prepaid insurance Equipment ACCEL Balance Sheet As of December 31 Liabilities: 12,000 Accounts payable 3,000 Notes payable 10,000 Unearned revenue 5,000 2,000 Total Liabilities 10,200 Equity: Common stock Retained earnings 4.800 2,800 3,600 11,200 9,200 21,800 Total Assets $ 42,200 Total Liabilities and Equity 31,000 42,200 $