Labels and Amount Descriptions Retained Earnings Statement The assets and iabities of Rocky's Day Spa at December 31 and expenses for the year are listed below The stockholders' equity was sce000 48000 n Common Stock and $20,000 in Retained Eamings) at January 1. The shareholders invested in an additional $10,000 of common stock during the year Net income for the year is $45,625 Accounts Amounts Accounts Amounts Accounts payable 4,375 Spa operating expense $23,760 8,490 Office expense Accounts receivable 2,470 3,980 Spa supplies 9,230 Cash 98,435 Wages expense Fees earned 26,580 38,170 Spa furniture& equipment56,000 Dividends 2.130 Labels and Amount Desoriptions Rocky's Day Spa Retained Earnings Statement For the Year Ended December 31 1 Fees eamed Instruction Labels and Amount Descriptions Retained Earnings Statement Instruction Labels and Amount Descriptions Re Labels For the Year Ended December 31 nent Change in retained earnings ber 31 Dividends Net income for the year Net loss for the year Retained earnings, December 31 Retained earnings, January 1