The financial statements at the end of Stone Realty's first month of operations are shown below.

Instructions1. Would you classify a realty business like Stone Realty as a manufacturing, merchandising, or service business?2. By analyzing the interrelationships among the financial statements, determine the proper amounts for (a) through(o).

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STONE REALTY Income Staternent For the Month Ended September 30, 2010 Fees earned $141,000 Operating expenses: Wages expense Rent expense Supplies expense Utilities expense Miscellaneous expense Total operating expenses $ (a) 14,400 12,000 8.100 4,950 71,700 $ (b) Net income STONE REALTY Retained Earnings Statement For the Month Ended September 30, 2010 S (c) (d) Net income for September Less dividends $ (e) Retained earnings, September 30, 2010 STONE REALTY Balance Sheet September 30, 2010 Assets Cash $88,500 Supplies Land 6,000 (f) $ (g) Total assets Liabilities $ 7,200 Accounts payable Stockholders' Equity $ (h) (i) Capital stock Retained earnings G) $ (k) Total liabilities and stockholders' equity STONE REALTY Statement of Cash Flows For the Month Ended September 30, 2010 Cash flows from operating activities: Cash received from customers $ (1) 70,500 Deduct cash payments for payments to creditors Net cash flows from operating activities Cash flows from investing activities: Cash payments for acquisition of land Cash flows from financing activities: Cash received from issuing capital stock expenses and $ (m) 216,000 $270,000 36,000 Deduct dividends Net cash flows from financing activities Net cash flow and September 30, 2010 cash balance (n) 3 (0)