Using the information from the previous problem, prepare a Statement of Retained Earnings.
June 1 Invested cash in Norman Environmental Services and received common stock $45500
June 2 Borrowed from the First Bank of Baltimore and signed a promissory note $43000
June 3 Purchased Supplies with Cash $900
June 4 Purchased a computer from a local office supply store on account $1150
June 5 Provided tutorial services on account for 3 students $2100
June 5 Paid rent for the month $950
June 6 Placed and paid for an ad in a newspaper to run this month $240
June 7 Paid the office supply store fully for the computer purchased on June 4
June 8 Received $240 cash from tutorial services provided on account on June 5
June 15 Provided additional tutorial services to students for cash $540
June 30 Determined that $320 of supplies was remaining
June 30 Declared and paid dividends in the amount of $700
| Description | Amount |
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| Subcategory,Retained Earnings, beginning balance | 0 |
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