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Angela Lopez owns and manages a consulting firm called Metrix, which began operations on March 1 On March 31, Metrix shows the following selected accounts

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Angela Lopez owns and manages a consulting firm called Metrix, which began operations on March 1 On March 31, Metrix shows the following selected accounts and amounts for the month of March. Equipment Salaries expense Consulting revenue Cash Utilities expense Note payable Accounts receivable Common stock Dividends $10,000 4,200 18,000 10,400 440 3,600 4,700 16,400 3,200 office supplies Rental revenue Advertising expense Prepaid insurance Accounts payable Note receivable Rent expense Unearned revenue $ 2,700 1,700 640 2,200 5,140 3,700 3,200 540 Required: 1. Prepare a March income statement for the business 2. Prepare a March statement of retained earnings. The Retained Earnings account balance at March 1 was $0. 3. Prepare a March 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2

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