Shaded cells V 1000R. GGE Enterprises Inc. On November of the current your, Rob Eliot invested $31,000.00 of his cash to form a corporation, GGE Enterprises Inc., in exchange for shares of common stock. No other common stock was issued during November or December. Atier a very successful first month of operations, the retained earnings as of November 30 were reported at $5,000.00 Ater all transactions have been entered into the accounting equation for the month of December, the ending balances for selected terns on December 31 follow. On that date, the financial statements were prepared. The balance sheet reported total assets of $53,900.00 and total stockholders' equilty of $37.705.00. Miscellaneos Accounts Receivable $7,850.00 Accounts Payable Cash Land $15,000.00 Common Stock 7 Retained Fees Supplies Earnings Dividends Earned Expense $5,000.00 $6,500.00 $20.250.00 $6,475.00 Utilities Expense > Wages Rent Expense Expense 54,500.00 $1,310.00 Expense $460.00 2 Review the following questions, place an X in the box to indicate which financial statements) report the desired information. Enter the amount reported on the financial statement. Balance Income Retained Earnings Sheet Statement Statement Amount 1. What is the amount reported for total liabilities and stockholders'equity on December 312 X $53,900.00 2. What is the retained earnings wount reported on December 31? 5 3. How much does GGE Enterprises in owe to its creditors? 3 4. How much cash is being held by GGE Enterprises Ine? 5. By what amount did retained earrings increase or decrease during the period? 6. What is the amount of proft or loss during December? 7. What were the total expenses for December? B. How much was paid for it