Analysis of the transactions of the Moonlight Drive-In Theater for June 2012 disclosed the following:

a. Prepare an income statement for June 20T2,

b. Prepare a statement of retained earnings for June 2012.

c. Prepare a balance sheet as of June 30, 2012.

d. How solvent does this company appear to be?

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Ticket revenue Equipment rent expense Film rent expense Concession revenue Advertising expense Salaries expense Utilities expense $180,000 50,000 53,400 29,600 18,600 60,000 14,100 12,000 Cash dividends declared and paid Balance sheet amounts at June 30 include the following: Cash $140,000 Land 148,000 Accounts payable 87,600 Capital stock 114,000 Retained earnings as of June 1, 2012 84,900