Question: Use the following information for Exercises 25-27 below. (Static) Skip to question [The following information applies to the questions displayed below.] Carmen Camry operates a

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

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[The following information applies to the questions displayed below.]

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$ 25,360Dividends$ 6,000Accounts receivable22,360Consulting revenue27,000Office supplies5,250Rent expense9,550Office equipment20,000Salaries expense5,600Land44,000Telephone expense860Accounts payable10,500Miscellaneous expenses520Common stock102,000

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.

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