Refer to the data in Exercise 1-32B.
Assume Office Plus Copy Center, Inc. ended the month of May 2014 with these data:

Requirement
1. Prepare the balance sheet of Office Plus Copy Center, Inc., at May 31,2014.

Transcribed Image Text:

Payments of cash: Acquisition of equipment$402,700 Cs balance, May 1, 2014.. 0 .12,500 Cash balance, May 31, 2014. 20,300 Retained earnings Retained earnings Utilities expense Dividends.. May 1, 2014. May 31, 2014 Cash receipts: Issuance (sale) of stock . . 200,000 3,700 ..200,000 Equipmen..402,700 Office supplies 4,400 33,800 Service revenue 450,300 to o 2Rent expense 10,500 Commom stock.. Adjustments to reconcile net income to net cash provided by operations.29,400 Acounts payable Salary expense 230,000