The following data are for Central District Parking Corporation:

The summarized transactions for October 1999 are as follows:

Required

a. Prepare a summary of transactions (see Part A of Illustration 1.3) using column headings as given in the preceding balance sheet. Determine balances after each transaction.

b. Prepare an income statement for October 1999.

c. Prepare a statement of retained earnings for October 1999.

d. Prepare a balance sheet as of October 31, 1999.

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Cash CENTRAL DISTRICT PARKING CORPORATION Balance Sheet September 30, 1999 Assets Accounts receivable Total assets Liabilities and Stockholders' Equity Accounts payable. Capital stock. Retained earnings Total liabilities and stockholders' equity $344,000 18,000 $362,000 $ 94,000 232,000 36,000 $362,000