16. Koger Consultants began operations on June 1, 2007. The financial statements for Koger Consultants are shown below for the month ended June 30, 2007 (the first month of operations). Determine the missing amounts for letters (a) through (o). Koger Consultants Income Statement For the Month Ended June 30, 2007 P22,000 P7,250 1,600 Fees carned Operating expenses: Wages expense Rent expense Supplies expense Utilities expense Miscellaneous expense Total operating expenses Net income 900 1.550 () Ire Koger Consultants Statement of Owner's Equity For the Month Ended June 30, 2007 Jan Koger, capital, June 1, 2007 Investment on June 1, 2007 Net income for June 30, 2007 0 P30,000 (d) Ple) 4.000 Less withdrawals Increase in owner's equity Jan Koger, capital, June 30, 2007 P32.100 Assets Cash Supplies Land Total assets Koger Consultants Balance Sheet June 30, 2007 Liabilities P (g) Accounts payable 1,100 Owner's Equity (h) Jan Koger, capital P45,900 Total liabilities and owner's equity P (i) P(k) Koger Consultants Statement of Cash Flows For the Month Ended June 30, 2007 Cash flows from operating activities: Cash received from customers P22,000 Koger Consultants Statement of Cash Flows For the Month Ended June 30, 2007 Cash flows from operating activities: Cash received from customers P22,000 3,200 P 18,800 Deduct cash payments for expenses and payments to creditors Net cash flow from operating activities Cash flows from investing activities: Cash payments for acquisition of land Cash flows from financing activities: Cash received as owner's investment Deduct cash withdrawal by owner Net cash flow from financing activities Net cash flow and Dec. 31, 2007 cash balance (20,000) P (1) (m) (0) Place your answers in the space provided below. Hint: Use the interrelationships among the financial statements to solve this problem. (a) (b)