Refer to Problems P22A- 43A and P22A- 44A.

Requirements
1. Prepare a budgeted income statement for the two months ended May 31, 2014.
2. Prepare a budgeted balance sheet as of May 31, 2014.
3. Prepare the budgeted statement of cash flows for the two months ended May 31,2014.

THUMBTACK OFFICE SUPPLY Balance Sheet March 31, 2014 Assets urent Assets Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Total Current Assets $ 18,000 12,000 16,000 2,200 5 48,200 Property, Plant and Equipment: Equipment and Fixtures Less: Accumulated Depreciation otal Assets 45,000 30,000) 15,000 S 63,200 Liabilities urrent iabilities Accounts Payable Salaries and Commissions Payable otal abilities 12,500 1,400 5 13,900 Stockholders' Equity 16,000 33,300 ommon Stock Retained Earnings 49,300 S 63,200 Total StockholdersEquity otal iabilities and Stockholdrs Equity