On March 1, 2019, Janet Dodge began Dodge Delivery Service, which provides delivery of bulk mailings to the post office, neighborhood delivery of weekly newspapers, data delivery to computer service centers, and various other delivery services using leased vans. On February 28 , Dodge invested \(\$ 20,000\) of her own funds in the firm and borrowed \(\$ 8,000\) from her father on a six-month, non-interest-bearing note payable. The following information is available at March 31:

Required

a. Prepare an income statement for the month of March.

b. Prepare a balance sheet as of March 31, 2019.

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Accounts receivable $10,700 Delivery fees earned...... $23,300 Rent expense... 2,500 Cash.... 12,700 Advertising expense. 1,100 Supplies inventory 14,800 Supplies expense. 2,500 Notes payable... 8,000 Accounts payable. 1,400 Insurance expense. 900 Salaries expense 6,200 Common stock. 20,000 Miscellaneous expense 1,300 Retained earnings ?