69. 
    

    Account Title	Debit ($) (Feb)	Credit ($) (Feb)	Debit ($) (Mar)	Credit ($) (Mar)
    Cash	145,000		150,000
    Accounts Receivable	165,000		170,000
    Inventory	175,000		180,000
    Prepaid Expenses	60,000		65,000
    Equipment	370,000		380,000
    Accumulated Depreciation		115,000		120,000
    Accounts Payable		140,000		145,000
    Notes Payable		65,000		60,000
    Common Stock		260,000		270,000
    Retained Earnings		210,000		220,000
    Sales Revenue		540,000		560,000
    Cost of Goods Sold	205,000		210,000
    Rent Expense	62,000		64,000
    Utilities Expense	16,000		17,000
    Salary Expense	125,000		130,000
    -------------------------	----------------------	----------------------	----------------------	----------------------
    Total	1,120,000	1,120,000	1,160,000	1,160,000

    Requirements:

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