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

Cash $25,480 Dividends $6,140
Accounts receivable 22,520 Consulting revenue 27,140
Office supplies 5,390 Rent expense 9,710
Office equipment 20,170 Salaries expense 5,730
Land 44,150 Telephone expense 1,030
Accounts payable 12,020 Miscellaneous expenses 640
Common stock 101,800

Required:
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.