> B C D 1 Presented below are incomplete financial statements for Marta Communications, Inc. 2 3 Required: 4 Solve for the missing amounts. NOTE: When an amount or 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. 9 Income Statement 10 For the Month Ended March 31, 20X1 11 Sales Revenues $34,500 12 Expenses: 13 Rent Expense 2,600 14 Wages Expense 15 Utilities Expense 4.800 16 Income Tax Expense 800 17 Net income $4.100 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 SO 24 Add: Net income Sheet1 - READY 1000 B D > 18 19 20 MARTA COMMUNICATIONS, INC. 21 Statement of Retained Earings For the Month Ended March 31, 20X1 23 Retained Earnings, March 1, 20X1 $0 24 Add: Net income 35 Subtract: Dividends (500) 26 Retained Earnings, March 31, 20X1 27 28 MARTA COMMUNICATIONS, INC. 10 Balance Sheet 81 At March 31, 20X1 2 Assets Liabilities 3 Cash $3,400 Accounts payable 4 Accounts receivable Stockholders' Equity 5 Office supplies 2,300 Common stock 6 Land 12,000 Retained earnings 7 Total Assets Total Liabilities and Stockholders' Equity $6,800 14,000 8 9 0 1 Sheet1 + READY em