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	139,600		237,000
Accounts receivable	79,100		90,900
Supplies	7,000		5,800
Accounts payable	$35,800		$38,700
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
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		$
Liabilities
		$
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 $29,000 were paid during the month. $