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

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, 20Ya Fees earned.. (a) Expenses: Wages expense Rent expense.. Supplies expense Utilities expense..... $300,000 100,000 (b) 20,000 Miscellaneous expense. 25,000 .... Total expenses. 175,000 ..... .......... Net income.. $275,000 ...... Wolverine Realty Statement of Owner's Equity For the Month Ended April 30, 20Y3 $ (c) Dakota Rowe, capital, April 1, 20Y3... Investment on April 1, 20Y3... Net income for April....... ...... ১ 375,000 (ed) Withdrawals.. (125,000) Increase in owner's equity... (e) Dakota Rowe, capital, April 30, 20Y3.. () Wolverine Realty Balance Sheet April 30, 20Y3 Assets $462,500 Cash 12,500 Supplies. Land .... 150,000 (g) Total assets Liabilities $ 100,000 Accounts payable Owner's Equity Dakota Rowe, capital.... Total liabilities and owner's equity... (h) (i)