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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
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 218,800 371,400 Accounts receivable 124,000 142,500 10,900 9,100 Supplies Accounts payable $56,100 $60,600 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 $ Total assets Liabilities $ Stockholders' Equity. Total stockholders' equity 00 Total liabilities and stockholders' equity Prepare balance sheets for Ebony Interiors as of March 31, 2018. Ebony Interiors Balance Sheet March 31, 2018 Assets $ Total assets $ Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity 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. $ c. Determine the amount of net income for March, assuming that no additional common stock was issued, but dividends of $45,400 were paid during the month
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