Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1....

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Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected accounts and amounts for the month of December. Cash $ 9,400 Common stock $ 14,400 Accounts receivable 4,200 Dividends 2,700 Notes receivable 3,200 Consulting revenue 15,500 Office supplies 2,200 Rental revenue 1,200 Prepaid insurance 1,700 Salaries expense 3,700 Equipment 7,500 Rent expense 2,700 Accounts payable 3,540 Advertising expense Notes payable 3,100 Utilities expense 540 340 Unearned revenue 440 Required: 1. Prepare a December income statement for the business. 2. Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. 3. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a December income statement for the business. Revenues: Consulting revenue Rental revenue Total Revenues Expenses: Salaries expense Utilities expense Advertising expense Rent expense Total Expenses Net income METRIX Income Statement $ 15,000 1,200 $ 3,700 340 540 2,700 $ 16,200 7,280 Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected accounts and amounts for the month of December. Cash $ 9,400 Common stock $ 14,400 Accounts receivable 4,200 Dividends 2,700 Notes receivable 3,200 Consulting revenue 15,500 Office supplies 2,200 Rental revenue 1,200 Prepaid insurance 1,700 Salaries expense 3,700 Equipment 7,500 Rent expense 2,700 Accounts payable 3,540 Advertising expense Notes payable 3,100 Utilities expense 540 340 Unearned revenue 440 Required: 1. Prepare a December income statement for the business. 2. Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. 3. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. METRIX Statement of Retained Earnings Retained earnings, December 1 $ 0 Add: Net income 8,920 8,920 Less: Dividends (2,700) $ 6,220 < Required 1 Required 3 > Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected accounts and amounts for the month of December. Cash $ 9,400 Accounts receivable 4,200 Common stock Dividends $ 14,400 2,700 Notes receivable 3,200 Consulting revenue 15,500 Office supplies 2,200 Rental revenue 1,200 Prepaid insurance 1,700 Salaries expense 3,700 Equipment 7,500 Rent expense 2,700 Accounts payable 3,540 Advertising expense Notes payable 3,100 Utilities expense 540 340 Unearned revenue 440 Required: 1. Prepare a December income statement for the business. 2. Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. 3. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2. METRIX Balance Sheet Assets: Cash 9,400 Accounts payable $ 3,540 Accounts receivable 4,200 Notes payable 3,100 Office supplies 2,200 Unearned revenue 440 Equipment Notes receivable 7,500 3,200 Total Liabilities $ 7,080 Prepaid insurance 1,700 Common stock 14,400 Retained earnings 6,220 Total Equity 20,620 $ 28,200 Total Liabilities and Equity $ 27,700 Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected accounts and amounts for the month of December. Cash $ 9,400 Common stock $ 14,400 Accounts receivable 4,200 Dividends 2,700 Notes receivable 3,200 Consulting revenue 15,500 Office supplies 2,200 Rental revenue 1,200 Prepaid insurance 1,700 Salaries expense 3,700 Equipment 7,500 Rent expense 2,700 Accounts payable 3,540 Advertising expense Notes payable 3,100 Utilities expense 540 340 Unearned revenue 440 Required: 1. Prepare a December income statement for the business. 2. Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. 3. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a December income statement for the business. Revenues: Consulting revenue Rental revenue Total Revenues Expenses: Salaries expense Utilities expense Advertising expense Rent expense Total Expenses Net income METRIX Income Statement $ 15,000 1,200 $ 3,700 340 540 2,700 $ 16,200 7,280 Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected accounts and amounts for the month of December. Cash $ 9,400 Common stock $ 14,400 Accounts receivable 4,200 Dividends 2,700 Notes receivable 3,200 Consulting revenue 15,500 Office supplies 2,200 Rental revenue 1,200 Prepaid insurance 1,700 Salaries expense 3,700 Equipment 7,500 Rent expense 2,700 Accounts payable 3,540 Advertising expense Notes payable 3,100 Utilities expense 540 340 Unearned revenue 440 Required: 1. Prepare a December income statement for the business. 2. Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. 3. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. METRIX Statement of Retained Earnings Retained earnings, December 1 $ 0 Add: Net income 8,920 8,920 Less: Dividends (2,700) $ 6,220 < Required 1 Required 3 > Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected accounts and amounts for the month of December. Cash $ 9,400 Accounts receivable 4,200 Common stock Dividends $ 14,400 2,700 Notes receivable 3,200 Consulting revenue 15,500 Office supplies 2,200 Rental revenue 1,200 Prepaid insurance 1,700 Salaries expense 3,700 Equipment 7,500 Rent expense 2,700 Accounts payable 3,540 Advertising expense Notes payable 3,100 Utilities expense 540 340 Unearned revenue 440 Required: 1. Prepare a December income statement for the business. 2. Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. 3. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2. METRIX Balance Sheet Assets: Cash 9,400 Accounts payable $ 3,540 Accounts receivable 4,200 Notes payable 3,100 Office supplies 2,200 Unearned revenue 440 Equipment Notes receivable 7,500 3,200 Total Liabilities $ 7,080 Prepaid insurance 1,700 Common stock 14,400 Retained earnings 6,220 Total Equity 20,620 $ 28,200 Total Liabilities and Equity $ 27,700