From the Information Given, Prepare a November Statement of Retained

Essay

From the information given, prepare a November statement of retained earnings.
On November 1 of the current year, Lois Bell began Lois Bell, Interior Design as a corporation with an initial investment of $50,000 cash. On November 30 her records showed the following (alphabetically arranged) selected accounts and amounts:
$\begin{array}{|l|r|l|r|}\hline \text { Accounts Payable } & \$ 12,000 & \text { Office Furnishings } & \$ 40,000 \\\hline \text { Accounts Receivable } & 23,000 & \text { Dividends } & 6,000 \\\hline \text { Cash } & 17,200 & \text { Rent Expense } & 3,600 \\\hline \text { Fees Earned } & 30,000 & \text { Salaries Expense } & 6,200 \\\hline \text { Notes Payable } & 4,250 & \text { Telephone Expense } & 250 \\\hline\end{array}$