Balance Sheets, Net Income

Financial information related to the corporation of Ebony Interiors for February and March 2018 is as follows:

	February 28, 2018		March 31, 2018
Cash	248,400		421,700
Accounts receivable	140,800		161,800
Supplies	12,400		10,300
Accounts payable	$63,700		$68,800
Common stock	130,000		130,000
Retained earnings	?		?

a. Prepare balance sheets for Ebony Interiors as of February 28, 2018.

Ebony Interiors
Balance Sheet
February 28, 2018
Assets
	$fill in the blank 15c2d3f41028ff6_2
	fill in the blank 15c2d3f41028ff6_4
	fill in the blank 15c2d3f41028ff6_6
Total assets		$fill in the blank 15c2d3f41028ff6_7
Liabilities
		$fill in the blank 15c2d3f41028ff6_9
Stockholders' Equity
	$fill in the blank 15c2d3f41028ff6_11
	fill in the blank 15c2d3f41028ff6_13
Total stockholders' equity		fill in the blank 15c2d3f41028ff6_14
Total liabilities and stockholders' equity		$fill in the blank 15c2d3f41028ff6_15

Prepare balance sheets for Ebony Interiors as of March 31, 2018.

Ebony Interiors
Balance Sheet
March 31, 2018
Assets
	$fill in the blank f6c78204103404c_2
	fill in the blank f6c78204103404c_4
	fill in the blank f6c78204103404c_6
Total assets		$fill in the blank f6c78204103404c_7
Liabilities
		$fill in the blank f6c78204103404c_9
Stockholders' Equity
	$fill in the blank f6c78204103404c_11
	fill in the blank f6c78204103404c_13
Total stockholders' equity		fill in the blank f6c78204103404c_14
Total liabilities and stockholders' equity		$fill in the blank f6c78204103404c_15

b. Determine the amount of net income for March, assuming that no additional common stock was issued and no dividends were paid during the month. $fill in the blank b261d7f9efd102a_1

c. Determine the amount of net income for March, assuming that no additional common stock was issued, but dividends of $51,600 were paid during the month. $fill in the blank b261d7f9efd102a_2