using formulas

6 indicating the relationship between the two statements. 7 8 MARTA COMMUNICATIONS, INC. Income Statement 9 For the Month Ended March 31, 20x1 $34,500 2,600 4,800 800 $4,100 $0 23933252288 10 11 Sales Revenues 12 Expenses: 13 15 Rent Expense Wages Expense Utilities Expense Income Tax Expense 17 Net income 16 19 20 MARTA COMMUNICATIONS, INC. Statement of Retained Earnings For the Month Ended March 31, 20X1 Retained Earnings, March 1, 20x1 Add: Net income 23 24 MARTA COMMUNICATIONS, INC Statement of Retained Earnings For the Month Ended March 31, 201 Retained Earnings, March 1, 20X1 Add: Net income Subtract: Dividends Retained Earnings, March 31, 20x1 Assets Cash Accounts receivable Office supplies Land Total Assets 14 18 21 50 (500) MARTA COMMUNICATIONS, INC. Balance Sheet At March 31, 201 Liabilities $3,400 Accounts payable Stockholders' Equity 2,300 Common stock 12,000 Retained earnings Total Liabilities and Stockholders' Equity C $6,800 14,000