Question: Problem 2-7A (Static) Preparing an income statement, statement of retained earnings, and balance sheet LOP1 Angela Lopez owns and manages a consulting firm called Metrix,

and balance sheet LOP1 Angela Lopez owns and manages a consulting firm

Problem 2-7A (Static) Preparing an income statement, statement of retained earnings, and balance sheet LOP1 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. 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. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2. 1. Rrepare a vecember income statement tor 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. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2

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