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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