14. 
    

    Account Title	Debit ($) (Sep)	Credit ($) (Sep)	Debit ($) (Oct)	Credit ($) (Oct)
    Cash	90,000		95,000
    Accounts Receivable	110,000		115,000
    Inventory	120,000		125,000
    Prepaid Expenses	25,000		28,000
    Equipment	260,000		270,000
    Accumulated Depreciation		60,000		65,000
    Accounts Payable		90,000		95,000
    Notes Payable		60,000		55,000
    Common Stock		190,000		200,000
    Retained Earnings		140,000		150,000
    Sales Revenue		400,000		420,000
    Cost of Goods Sold	150,000		155,000
    Rent Expense	35,000		38,000
    Utilities Expense	9,000		10,000
    Salary Expense	70,000		75,000
    -------------------------	----------------------	----------------------	----------------------	----------------------
    Total	780,000	780,000	820,000	820,000

    Requirements:

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