=+Assets Liabilities Cash . . . . . . . . . . . . . . . . . . . $ 26,700 Accounts payable . . . . . . . . . . . . . . . $ 9,600 Supplies . . . . . . . . . . . . . . . . . 21,300 Owner’s Equity Land. . . . . . . . . . . . . . . . . . . . 240,000 Laura Biddle, capital . . . . . . . . . . . . . (i)

Total assets. . . . . . . . . . . . . . . (h) Total liabilities and owner’s equity . . . (j)

Palo Duro Realty Statement of Cash Flows For the Month Ended November 30, 2010 Cash flows from operating activities:

Cash received from customers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (k)

Deduct cash payments for expenses and payments to creditors . . . . . . 117,300 Net cash flow from operating activities . . . . . . . . . . . . . . . . . . . . . . . . $ (l)

Cash flows from investing activities:

Cash payments for acquisition of land. . . . . . . . . . . . . . . . . . . . . . . . . (m)

Cash flows from financing activities: