8 9 3 Required: 4 Solve for the missing amounts. NOTE: When an amount on one financial statement is again shown on 5 another statement, you MUST reference the cell from the earlier statement rather than calculate the amount, thus 6 indicating the relationship between the two statements. 7 MARTA COMMUNICATIONS, INC. Income Statement 10 For the Month Ended March 31, 20X1 11 Sales Revenues $34,500 12 Expenses: 13 Rent Expense 2,600 Wages Expense 15 Utilities Expense 4,800 16 Income Tax Expense 800 17 Net income $4,100 14 18 19 20 MARTA COMMUNICATIONS, INC. 21 Statement of Retained Earnings 22 For the Month Ended March 31, 20X1 23 Retained Earnings, March 1, 20X1 24 Add: Net income Sheet1 $0 19 20 MARTA COMMUNICATIONS, INC. 21 Statement of Retained Earnings 22 For the Month Ended March 31, 20X1 23 Retained Earnings, March 1, 20x1 SO 24 Add: Net income 25 Subtract: Dividends (500) 26 Retained Earnings, March 31, 20X1 27 28 29 MARTA COMMUNICATIONS, INC. 30 Balance Sheet 31 At March 31, 20x1 32 Assets Liabilities 33 Cash $3,400 Accounts payable 34 Accounts receivable Stockholders' Equity 35 Office supplies 2,300 Common stock 36 Land 12,000 Retained earnings 37 Total Assets Total Liabilities and Stockholders' Equity 38 39 $6,800 14,000 40 41 20 Sheet1