what is statement of retained earnings

Francine's Fast Deliveries, Ine. Balance Sheet Al Jan. 1. 2010 $ 900 5 400 ASSETS Cash Accounts Rec Supplies LIABILITIES: Accounts Payable Stockholders' Equity Contributed Capital Retained lamin TOTAL LIARS & EQUITY 200 00 60 1900 1.900 TOTAL ASSETS Journal Entries for lan . Account Name DEBIT CREDIT 1 Investment Cash 12000 Contributed capital 12000 2 Supplies purchased supplies 1000 Accounts payable 1000 3 insurance Prepaid insurance 3600 3600 4 Rent Prepaid rent 4200 cash 4200 Account name DEBIT CREDIT 5 loan cash 74000 Rank loan 2400D 6 van equipment 7200 cash 7200 7 Cash collected cash 600 Accounts receivable GOO Cash pald Accounts payable 300 cash 300 100 9 Service provided Accounts receivable 10400 Service revenue 10400 16 Service provided cash 7600 Service revenue 7600 11 Wages pald Wages 1400 cash 1400 12 Advanced pay cash 3200 Unearned revenue 7200 13 Cash collected cash 4500 Accounts receivable 4500 14 Wages expense wages 1400 Wales payable 1400 15 Utilities owed utilities BOO Accounts payable 800 Kad of Period Adjusting Entries Account Name Debil Credit Supplies (200+1000-950) Supply experte 350 supplies 250 Revenue Erned Uncamned revenue Senie v 120 on interest Interest expen 200 200 Van depreciation Darpanaina and 150 150 Revenue reveam 12. 10.400, cash 7600) 1 19,200 Expenses supplies Loan int Van dep Wages (1400 1400) utilities 250 200 150 2800 ROD Net Income 4200 15,080