newconnect.mheducation.com ? r u .|?·???, Alignment ! Nurter Conditional Format
ID: 2414312 • Letter: N
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newconnect.mheducation.com ? r u .|?·???, Alignment ! Nurter Conditional Format asCa Formatting Table Styles Cell Cells Editing Clipboand B14 1 Presented below are incomplete financial statements for Marta Communications, Indc. 3Required: 4 Solve for the missing amounts. NOTE: When an amount on one financial statement is again shown on another statement, you MUST reference the cell from the earlier ssatement rather than calculate the amount, thus 6 indicating the relationship between the two statements MARTA COMMUNICATIONS, INC. Income Statement 10 11 Sales Revenues 12 Expenses 3 Rent Expense For the Month Ended March 31. $34,500 2,600 14 Wages Expense 4800 15 Utilities Expense 16 Income Tax Expense 17 Net income 18 19. 20 21 $4,100 MARTA COMMUNICATIONS, INC Statement of Retained Earnings For the Month Ended March 31,20X SO 23 Retained Earnings, March 1,20x1 24 Add: Net income Attempt(s) 2/3 ?Prev 4of8?? Next >Explanation / Answer
MARTA COMMUNICATIONS INC
INCOME STATEMENT
For the Month Ended March 31, 20X1
Sales Revenues
$34,500
Expenses
Rent Expenses
2,600
Wages Expenses
22,200
Utilities Expenses
4,800
Income Tax Expenses
800
Net Income
4,100
MARTA COMMUNICATIONS INC
Statement of Retained Earnings
For the Month Ended March 31, 20X1
Retained Earnings March 01, 20X1
$0
Add : Net Income
4,100
Subtract : Dividends
(500)
Retained Earnings March 31, 20X1
$3,600
MARTA COMMUNICATIONS INC
Balance Sheet
As March 31, 20X1
Assets
Liabilities
Cash
3,400
Accounts Payable
6,800
Accounts Receivables
6,700
Stockholders Equity
Office Supplies
2,300
Common Stock
14,000
Land
12,000
Retained Earnings
3,600
Total Assets
24,400
Total Liabilities Stockholders Equity
24,400
Note : - Missing Figures are marked in BOLD
MARTA COMMUNICATIONS INC
INCOME STATEMENT
For the Month Ended March 31, 20X1
Sales Revenues
$34,500
Expenses
Rent Expenses
2,600
Wages Expenses
22,200
Utilities Expenses
4,800
Income Tax Expenses
800
Net Income
4,100
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