Preparing the statement of retained earnings Prepare the statement of
Preparing the statement of retained earnings Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016.
Insurance Expense ....... $ 2,000
Service Revenue ....... 80,000
Utilities Expense ....... 500
Rent Expense ....... 11,000
Common Stock ....... 8,500
Cash .............. 7,000
Retained Earnings, Jan. 1, 2016 .... 4,800
Salaries Expense ....... $ 37,000
Accounts Payable ....... 4,300
Office Supplies ....... 1,500
Dividends ....... 4,500
Accounts Receivable ....... 7,500
Equipment ....... 26,600
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