The account balances and income statement of Team Trainer at June 30, 2025, follow: View the...

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The account balances and income statement of Team Trainer at June 30, 2025, follow: View the account balances. Requirements View the income statement for the month. 1. Prepare the statement of retained earnings for Team Trainer for the month ending June 30, 2 2. What does the statement of retained earnings report? Requirement 1. Prepare the statement of retained earnings for Team Trainer Towing Service for below the subtotal.) Retained Earnings, June 1, 2025 Retained Earnings, June 30, 2025 Account Balances Equipment Supplies $ 17,050 Service Revenue. $ 11,200 1,400 Accounts Receivable 6,500 Notes Payable 8,500 Accounts Payable 8,000 Rent Expense 850 Retained Earnings, June 1, 2025 2,200 Cash 2,000 Salaries Expense 2,600 Dividends 1,500 Common Stock 2,000 Income Statement Print Done Team Trainer Income Statement Month Ended June 30, 2025 Revenues: Service Revenue Expenses: Salaries Expense Rent Expense Net Income Total Expenses EA - $ 11,200 2,600 850 3,450 7,750 The account balances and income statement of Team Trainer at June 30, 2025, follow: View the account balances. Requirements View the income statement for the month. 1. Prepare the statement of retained earnings for Team Trainer for the month ending June 30, 2 2. What does the statement of retained earnings report? Requirement 1. Prepare the statement of retained earnings for Team Trainer Towing Service for below the subtotal.) Retained Earnings, June 1, 2025 Retained Earnings, June 30, 2025 Account Balances Equipment Supplies $ 17,050 Service Revenue. $ 11,200 1,400 Accounts Receivable 6,500 Notes Payable 8,500 Accounts Payable 8,000 Rent Expense 850 Retained Earnings, June 1, 2025 2,200 Cash 2,000 Salaries Expense 2,600 Dividends 1,500 Common Stock 2,000 Income Statement Print Done Team Trainer Income Statement Month Ended June 30, 2025 Revenues: Service Revenue Expenses: Salaries Expense Rent Expense Net Income Total Expenses EA - $ 11,200 2,600 850 3,450 7,750