Assume the Carson Coffee Roasters Corp. ended the month of August 2017 with these data:

Requirement
1. Prepare the income statement and the statement of retained earnings of Carson Coffee Roasters Corp., for the month ended August 31, 2017.

Transcribed Image Text:

Payments of cash: Acquisition of equipment.$200,400 Cash balance, August 1, 2017.. Cash balance, August 31,2017. Cash receipts: 5,900 Retained earnings Retained earnings Utilities expense Dividends. August 1, 2017.. August 31, 2017. Issuance (sale) of stock 13,200 1,900 13,200 Equipmen..200,400 7,500 9,000 279,600 Rent expense... ,400 Cmmon stock Adjustments to reconcile Office supplies Accounts payable Service net income to net cash provided by operations.. Salary expense. 78,400 ..sa revenue...ns*ss...