2.4/5 IIT Current Attempt in Progress These financial statement items are for Cullumber Company at year-end, July 31, 2022. Salaries and wages payable $3,900 Salaries and wages expense 59,100 Supplies expense 16,800 Equipment 17,000 Accounts payable 4,100 Service revenue 67,700 Rent revenue 9.700 Notes payable (due in 2025) 3,300 Common stock 16,000 Cash 35,100 Accounts receivable 11,300 Accumulated depreciation-equipment 7.600 Dividends 4,000 Depreciation expense 4,000 Retained earnings (beginning of the year) 35.000 - CULLUMBER COMPANY Income Statement For the Year Ended July 31, 2022 Revenues Service Revenue 67700 Rent Revenue 9700 Total Revenues 77400 Expenses Salaries and Wages Expense 59100 i Supplies Expense 16800 Depreciation Expense 4000 Total Expenses 79900 Net Income /(Loss) -2500 Your answer is partially correct. QE Ace Dro Prepare a retained earnings statement for the year. Cullumber Company did not issue any new stock during the year. Qu Aco CULLUMBER COMPANY Retained Earnings Statement For the Year Ended July 31, 2022 Dro Retained Earnings. August 1, 2021 Vie Acce 35000 Less Net Income /(Loss) (2500) Less V Dividends Que Acco Drop 4000 i 28500 Retained Earnings, July 31, 2022 Que Acco Drop 28500 e Textbook and Media Que