Use the following information for Exercises 25-27 below. (Static)

Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the companys records show the following selected accounts and amounts for the month of December.

Cash	$ 25,360	Dividends	$ 6,000
Accounts receivable	22,360	Consulting revenue	27,000
Office supplies	5,250	Rent expense	9,550
Office equipment	20,000	Salaries expense	5,600
Land	44,000	Telephone expense	860
Accounts payable	10,500	Miscellaneous expenses	520
Common stock	102,000

Exercise 2-26 (Static) Preparing a statement of retained earnings LO P1

Use the above information to prepare a December statement of retained earnings for Help Today. The Retained Earnings account balance at December 1 was $0. Hint: Net income for December is $10,470.