AnyTimeAvailableForYou

SL18

Analyze the interrelationships among the four financial statements and enter the missing amounts. If an amount is zero, enter "0".


Income Statement
For the Month Ended May 31, 2014
Fees earned			400,000		pts

Expenses:
Wages expense					1.5
Rent expense		48,000
Supplies expense		17,600
Utilities expense		14,400
Miscellaneous expense		4,800
Total expenses			288,000

Net income			112,000




Atlas Realty
Retained Earnings Statement
For the Month Ended May 31, 2014
Retained earnings, May 1, 2014					0.5

Net income					0.5
Less dividends					0.5
Increase in retained earnings					0.5
Retained earnings, May 31, 2014					0.5

Atlas Realty
Balance Sheet
May 31, 2014
	Assets					pts
Cash	123,200
Supplies	12,800
Land						0.5
Total assets						0.5
	Liabilities
Accounts payable				48,000
	Stockholders' Equity
Capital stock						0.5
Retained earnings						0.5
Total stockholders' equity						0.5
Total liabilities and stockholders' equity						0.5

Atlas Realty
Statement of Cash Flows
For the Month Ended May 31, 2014
Cash flows from operating activities:
Cash received from customers						0.5
Deduct cash payments for expenses and payments to creditors	-252,800
Net cash flows from operating activities						0.5

Cash flows from investing activities:
Cash payments for acquisition of land				-120,000

Cash flows from financing activities:
Cash received from issuing capital stock	160,000
Deduct cash dividends	-64,000
Net cash flows from financing activities						0.5

Net increase (decrease) in cash and May 31, 2014, cash balance						0.5