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Required information Use the following information for the Quick Studies below. (Algo) [The following information applies to the questions displayed below.] On December 31 , Hawkin's records show the following accounts. Use the above information to prepare a December income statement for Hawkin. Use the above information to prepare a statement of retained earnings for Hawkin for the month ended December 31. Hint. Net income is $4,800. Use the above information to prepare a December balance sheet for Hawkin. Hint. Retained Earnings on December 31 equals $8,500