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After its first month of operation, the following amounts were taken from the accounting records of Benjamin Realty Inc. as of April 30, 20Y9. Capital
After its first month of operation, the following amounts were taken from the accounting records of Benjamin Realty Inc. as of April 30, 20Y9.
Capital stock | $81,250 | Notes payable | $113,750 | |
Cash | 172,250 | Rent expense | 16,250 | |
Dividends | 32,500 | Retained earnings | 0 | |
Interest expense | 6,500 | Salaries expense | 243,750 | |
Land | 136,500 | Sales commissions | 471,250 | |
Miscellaneous expense | 9,750 | Utilities expense | 48,750 |
Prepare an income statement for the month ending April 30, 20Y9.
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