The financial statements at the end of Wolverine Realty's first month of operations are as follows:

Wolverine Realty
Balance Sheet
April 30, 2019
Assets
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $462,500
Supplies . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,500
Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150,000
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (g)
Liabilities
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 100,000
Owner's Equity
Dakota Rowe, capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (h)
Total liabilities and owner's equity . . . . . . . . . . . . . . . . . . . . . . . $ (i)

Instructions
By analyzing the interrelationships among the four financial statements, determine the proper amounts for (a) through (p).

Transcribed Image Text:

Wolverine Realty Income Statement For the Month Ended April 30, 2019 Fees earned. i esiamtCN1 $ (a) . " Expenses: Wages expense 100,000 Supplies expense Utilities expense 20,000 25,000 475,000 $275,000 Wolverine Realty Statement of Owner's Equity For the Month Ended Aprll 30, 2019 $ (c) Dakota Rowe, capital, April 1, 2019 Investment on April 1,2019 125,000) Dakota Rowe, capital, April 30, 2019 $ (f) Wolverine Realty Statement of Cash Flows For the Month Ended April 30, 2019 Cash flows from operating activities Cash payments for expenses and payments to creditors Net cash flow from operating activities . . . . . . . . . . . . . .. . .. .. .. $ (k) Cash flows from investing activities Cash payments for acquisiti Cash flows from financing activities $ (m) Gashi wiihdrawals by €3wner . Net cash flow from financing activities.. . . . . . . . . . . . . . . . .. . .. .. Net increase (decrease) in cash and April 30, 2019, cash balance...... s (p)