76. 
    

    Account Title	Debit ($) (Aug)	Credit ($) (Aug)	Debit ($) (Sep)	Credit ($) (Sep)
    Cash	160,000		165,000
    Accounts Receivable	180,000		185,000
    Inventory	190,000		195,000
    Prepaid Expenses	75,000		80,000
    Equipment	400,000		410,000
    Accumulated Depreciation		130,000		135,000
    Accounts Payable		155,000		160,000
    Notes Payable		50,000		45,000
    Common Stock		290,000		300,000
    Retained Earnings		240,000		250,000
    Sales Revenue		600,000		620,000
    Cost of Goods Sold	220,000		225,000
    Rent Expense	68,000		70,000
    Utilities Expense	19,000		20,000
    Salary Expense	140,000		145,000
    -------------------------	----------------------	----------------------	----------------------	----------------------
    Total	1,240,000	1,240,000	1,280,000	1,280,000

    Requirements:

    • Prepare a comparative income statement for August and September.
    • Create a comparative balance sheet as of the end of August and September.
    • Calculate the change in retained earnings between August and September.
    • Analyze the financial performance and changes in financial position over the two months.