Use the information in Exercise to prepare an October statement of retained earnings for Real Answers.

In Exercise, On October 1, Keisha King organized Real Answers, a new consulting firm. On October 31, the company’s records show the following items and amounts. Use this information to prepare an October income statement for the business.

$11,500 Cash dividends $ 2,000 ..14,000 .. 2,520 5,600 760 580 ..2 Consulting fees earnec Accounts receivable 12,000 Office supplies .. Land Office equipment 24,437 Rent expense 46,000 Salaries expense 8,000 Telephone expense .... Miscellaneous expenses ...V... Common stock .. 84,360