Reference no: EM132507895

On June 1, 2021, Hollanda Company was started with an initial investment in the company of $19,250 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2021, and the revenues and expenses for the month of June, its first month of operations:

Cash $ 4,840                                      Notes payable $12,480

Accounts receivable 4,270                  Accounts payable 770

Service revenue 7,700                      Supplies expense 780

Supplies 2,462                                  Maintenance and repairs expense 610

Advertising expense 400                     Utilities expense 290

Equipment 23,700                                Salaries and wages expense 1,000

Common stock 19,250

• During June, the company issued no additional stock but paid dividends of $1,848.

Question1 : Draw up a retained earnings statement for the month of June. (List the items that increase retained earnings first.)