84. 
    

    Account Title	Debit ($) (Feb)	Credit ($) (Feb)	Debit ($) (Mar)	Credit ($) (Mar)
    Cash	175,000		180,000
    Accounts Receivable	195,000		200,000
    Inventory	205,000		210,000
    Prepaid Expenses	90,000		95,000
    Equipment	430,000		440,000
    Accumulated Depreciation		145,000		150,000
    Accounts Payable		170,000		175,000
    Notes Payable		35,000		30,000
    Common Stock		320,000		330,000
    Retained Earnings		270,000		280,000
    Sales Revenue		660,000		680,000
    Cost of Goods Sold	235,000		240,000
    Rent Expense	74,000		76,000
    Utilities Expense	22,000		23,000
    Salary Expense	155,000		160,000
    -------------------------	----------------------	----------------------	----------------------	----------------------
    Total	1,360,000	1,360,000	1,400,000	1,400,000

    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.