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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 254,200 Cash 149,800 Accounts receivable 84,900 97,500 Supplies 7,500 6,200 Accounts payable $38,400 $41,500 130,000 130,000 Common stock Retained earnings ? ? a. Prepare balance sheets for Ebony Interiors as of February 28, 2018. Ebony Interiors Balance Sheet February 28, 2018 Assets Total assets s Liabilities Stockholders' Equity $ 8 Total stockholders' equity Od 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 sl Liabilities s Liabilities o 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 $31,100 were paid during the month
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