51. 
    

    Account Title	Debit ($) (Jan)	Credit ($) (Jan)	Debit ($) (Feb)	Credit ($) (Feb)
    Cash	110,000		115,000
    Accounts Receivable	120,000		125,000
    Inventory	130,000		135,000
    Prepaid Expenses	35,000		40,000
    Equipment	300,000		310,000
    Accumulated Depreciation		80,000		85,000
    Accounts Payable		110,000		115,000
    Notes Payable		75,000		70,000
    Common Stock		200,000		210,000
    Retained Earnings		150,000		160,000
    Sales Revenue		400,000		420,000
    Cost of Goods Sold	160,000		165,000
    Rent Expense	45,000		48,000
    Utilities Expense	11,000		12,000
    Salary Expense	90,000		95,000
    -------------------------	----------------------	----------------------	----------------------	----------------------
    Total	830,000	830,000	865,000	865,000

    Requirements:

    • Prepare a comparative income statement for January and February.
    • Create a comparative balance sheet as of the end of January and February.
    • Calculate the change in retained earnings between January and February.
    • Analyze the financial performance and changes in financial position over the two months.