Yankee Hotel Foxtrot initiated operations on July 1, 2015. To manage the company officers and managers have requested monthly financial statements starting July 31, 2015. The adjusted trial balance amounts at July 31 are shown below.

(a) Determine the net income for the month of July.
(b) Determine the total assets and total liabilities at July 31, 2015 for Yankee Hotel Foxtrot.
(c) Determine the amount that appears for Retained Earnings at July 31, 2015

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Debits Credits Accumulated Depreciation - Equipment $ 840 Cash Accounts Receivable Prepaid Rent $7,680 810 Notes Payable Accounts Payable Salaries and Wages Payable Interest Payable Unearned Service Revenue Common Stock Retained Earnings Service Revenue Total credits 6,000 2,140 360 40 580 5,000 5,640 14,390 1,965 1,160 Supplies Equipment Dividends 11,400 800 Salaries and Wages Expense Rent Expense Depreciation Expense Supplies Expense Interest Expense Total debits 7,145 2,740 665 $34,990 580 45 $ 34,990