Refer to CP 1-3

Required:
1. Did Life Time Fitness rely more on creditors or stockholders for its financing at September 30, 2013? What is your information source?
2. Was the stockholders€™ equity at September 30, 2013, comprised more of contributions made by stockholders directly to the company or amounts earned and retained through profitable business operations? What is your information source?

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Accounts Payable Accounts Receivable Advertising Expense Cash (January 1, 2013) Cash September 30 2013 Common Stock Equipment Office Expenses $ 147.200 Income Tax Expense 62,400 78.800 965,800 527.200 19.700 Retained Eamings (uanuary 1, 2013) 6800 914,900 30,700 50,200 Interest Expense 89,200 Notes Payable 16.500 Operating Expenses 416,400 Service Revenue 2,153,200 Supplies 122,500 Other cash flow information: Cash received fiem issing common stock Cash paid to purchase equipment Cash paid to suppliers and employees Repayments of borrowings Cash received from customers Cash received from borrowings Cash received from sale of long-term assets Dividends paid to stockholders $ 10 237,100 724,280 75,530 914,000 125,000 1,100