Financial information related to Kate's Interiors for May and June of 2011 is as follows:

a. Prepare balance sheets for Kate's Interiors as of May 31 and June 30, 2011.b. Determine the amount of net income for June, assuming that dividends of $35,000 were paid.c. Determine the net cash flows from operating activities.d. Determine the net cash flows from investing activities.e. Determine the net cash flows from financing activities.f. Determine the net increase or decrease incash.

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June 30, 2011 May 31, 2011 Notes payable Land Capital stock Retained earnings Cash $200,000 500,000 75,000 $250,000 575,000 90,000 100,000 175,000