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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 129,100 219,100 Accounts receivable 73,200 84,100 6,500 5,400 $33,100 $35,700 Supplies Accounts payable Common stock Retained earnings 130,000 130,000 ? ? a. Prepare balance sheets for Ebony Interiors as of February 28, 2018. Ebony Interiors Balance Sheet February 28, 2018 Assets Cash 129,100 Accounts receivable Supplies 6,500 Total assets 265,600 Liabilities Accounts payable 33,100 Stockholders' Equity Common stock Retained earnings 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 Cash Accounts receivable Supplies Total assets Liabilities Accounts payable Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 9 b. Determine the amount of net income for March, assuming that no additional common stock was issued and no dividends were paid during the mon
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