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Required information Use the following information for Exercises 16-18 below. The following information applies to the questions displayed below] Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the company's records show the following selected accounts and amounts for the month of August. $ 25,310 Dividends 22,320 Consulting fees earned 5,200 Rent expense 43,970 Salaries expense 19,960 Telephone expense 10,700 Miscellaneous expenses 101,400 Cash 5,950 26,960 9,500 5,560 Accounts receivable Office supplies Land Office equipment Accounts payable 820 470 Common stock August income statement for the busi Use the above information to prepare an HELP TODAY Income Statement Revenues: ok Consulting fees earned 26,960 t nt Total Revenues $ 26,960 Expenses: nces Rent expense $ 9,500 Salaries expense 5,560 Telephone expense 820 Miscellaneous expenses 470 Total Expenses 16,350 Net income 16,610 $ Exercise 2-18 Preparing a balance sheet LO P3 Use the above information to prepare an August 31 balance sheet for Help Today. Hint The e as of August 31 is $4,660. HELP TODAY Balance Sheet Liabilities: 25,310 Accounts payable 22,320 5,200 Equity: 19,960 Common stock 43,970 Retained earnings Assets: ces Cash $ 10,700 Accounts receivable Office supplies Office equipment Land 101,400 4,660 Total equity $ 116,760 Total Liabilities and Equity 106,060 Total Assets 116,760