Financial Statements 227 Exercise 7-1: Answer the following questions about the balance sheet and income statement: 1. The total assets are: 2. The total capital is: 3. Indicate the amount of the net income or (net loss) for the month of March: 4. The current month's gross profit is: 5. The current month's total expenses are: Loss on NSF Checks Maintenance Expense Meals and Entertainment Exp Office Expense Other Taxes Payroll Tax Exp Penalties and Fines Exp Pension/Profit-Sharing Plan Ex Printing Offsite Expense Postage Expense Rent or Lease Expense Repairs Expense Salaries Expense Salaries Bonus Expense Salaries Commission Expense Supplies Expense Travel Expense Utilities Expense Wages Expense Other Expense Purchase Disc-Expense Items Gain/Loss on Sale of Assets Total Expenses Net Income Income Statement For the Three Months Ending March 31, 2019 Current Month 0.00 75.00 0.00 534.64 0.00 5,854.46 0.00 0.00 0.00 0.00 550.00 125.00 0.00 0.00 0.00 2,873.42 0.00 303.45 51,086.42 464.90 (10.11) 0.00 67,877.13 2,523.21) 0.00 0.08 0.00 0.60 0.00 6.59 0.00 0.00 0.00 0.00 0.62 0.14 0.00 0.00 0.00 3.23 0.00 0.34 57.48 0.52 (0.01) 0.00 76.37 (2.84) S Year to Date 0.00 75.00 0.00 534.64 0.00 16,115.88. 0.00 0.00 0.00 0.00 1,100.00 3,694.00 0.00 0.00 0.00 2,873.42 0.00 303.45 140,705.46 464.90 (10.11) 0.00 177,919.29 25,579.22 0.00 0.03 0.00 0.19 0.00 5.72 0.00 0.00 0.00 0.00 0.39 1.31 0.00 0.00 0.00 1.02 0.00 0.11 49.98 0.17 (0.00) 0.00 63.20 9.09 Notes Receivable-Noncurrent Other Noncurrent Assets Total Other Assets Total Assets Current Liabilities Accounts Payable Accrued Expenses Sales Tax Payable Wages Payable 401 K Deductions Payable Health Insurance Payable Federal Payroll Taxes Payable FUTA Tax Payable State Payroll Taxes Payable SUTA Tax Payable Local Payroll Taxes Payable Income Taxes Payable Other Taxes Payable Current Portion Long-Term Debt Contracts Payable- Current Other Current Liabilities Total Current Liabilities Long-Term Liabilities Notes Payable-Noncurrent Total Long-Term Liabilities Total Liabilities Capital Common Stock Paid-in Capital Retained Earnings Net Income Total Capital Total Liabilities & Capital S Balance Sheet March 31, 2019 5,004.90 3,333.00 LIABILITIES AND CAPITAL 80,852.01 3,022.55 18,083.53 2,320.30 2,579.92 (530.64) 42,381.73 258.20 6,946.31 658.67 113.25 11,045.75 2,640.15 5,167.00 2,000.00 54.00 4,000.00 5,000.00 100,000.00 189,037.60 25,579.22 26,333.00 501,209.55 177,592.73 4,000.00 181,592.73 319,616.82 501,209.55