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Paste BIU Y >>-A Alignment Number Cells Editing Conditional Format as Cell Formatting Table Styles Styles Clipboard Font A1 B V fac Presented below are incomplete financial statements for Marta Communications, B 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 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 8 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 the Month Ended March 31, 20X1 23 Retained Earnings, March 1, 20X 1 SO Prev 1 of 1 Next Ceus Formatting Table Styles Styles Clipboard Font A1 : N f Presented below are incomplete financial statements for Marta Communications, A B D > 19 SO 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 25 Subtract: Dividends 26 Retained Earnings, March 31, 20X1 27 (500) 5 28 29 30 MARTA COMMUNICATIONS, INC. Balance Sheet At March 31, 20X1 Liabilities $3,400 Accounts payable Stockholders' Equity 2,300 Common stock 12.000 Retained earnings Total Liabilities and Stockholders' Equity $6,800 31 32 Assets 33 Cash 34 Accounts receivable 35 Office supplies 36 Land 37 Total Assets 38 14,000 39 40 41 Prev 1 of 1 Next