Assume the Carson Coffee Roasters Corp. ended the month of August 2017 with these data:

The owner of Carson Coffee Roasters Corp. seeks your advice as to whether he should cease operations or continue the business. Complete the report, giving him your opinion of net income, dividends, financial position, and cash flows during his first month of operations. Cite specifics from the financial statements to support your opinion. Conclude your memo with advice on whether to stay in business or cease operations.

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Payments of cash: Acquisition of equipment.$200,400 Cash balance, August 1, 2017.. Cash balance, August 31,2017. Cash receipts: 5,900 Retained earnings Retained earnings Utilities expense Dividends. August 1, 2017.. August 31, 2017. Issuance (sale) of stock 13,200 1,900 13,200 Equipmen..200,400 7,500 9,000 279,600 Rent expense... ,400 Cmmon stock Adjustments to reconcile Office supplies Accounts payable Service net income to net cash provided by operations.. Salary expense. 78,400 ..sa revenue...ns*ss...