Activity 2.b - More Practice with Preparing the Statement of Retained Earnings Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each section of the statement, enter the accounts in Chart of Accounts order and the account balances. Then, calculate ending retained earnings. Enter any decreases using a minus sign or parentheses. SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 SMART TOUCH LEARNING Income Statement Month Ended December 31, 2016 Balance Revenue: Account Title Cash Debit Credit Service Revenue 16,400 Accounts Receivable 9,000 Expenses: Office Supplies Prepaid Rent Furniture Depreciation Expense--Furniture 2,100 200 Interest Expense 300 10,900 Rent Expense 3,200 19,100 Salaries Expense 3,800 Accumulated Depreciation--Furniture 6,500 Accounts Payable Supplies Expense 800 2,100 Total Expenses Salaries Payable 500 Net Income Interest Payable 300 Unearned Revenue 5,400 Notes Payable 7,600 Common Stock 10,700 Retained Earnings 10,900 Dividends 27,900 Service Revenue 49,700 Depreciation Expense-Furniture 2,100 Interest Expense 300 Rent Expense 3,200 Salaries Expense 3,800 Supplies Expense 800 Total 93,700 93,700 CHECK ANSWER SKIP TO NEXT 49,700 10,200 39,500 HINT