From the information given below, prepare a November income statement, a November statement of retained earnings, and a November 30 balance sheet. On November 1 of the current year, Victoria Garza, the sole stockholder, began Garza Dcor with an initial investment of $50,000 cash. On November 30, her records showed the following (alphabetically arranged) items and amounts.

Accounts payable.	$12,000	Notes payable	4,250
Accounts receivable.	19,000	Office furnishings..	$40,000
Cash	21,200	Rent expense	9,600
Dividends.	6,000	Salaries expense.	4,200
Fees earned.	34,000	Telephone expense.	250