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 $176,700299,900$

Accounts receivable $100,100115,100$

Supplies $8,8007,300$

Accounts payable $$45,300$ $$48,900$

Common stock $130,000130,000$

Retained earnings $??$

Question Content Area

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

Ebony Interiors

Balance Sheet

February $28,2018$

Assets

$$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

Total assets $fill in the blank ba$49$d$305$b$010$fb$2\_7$

Liabilities

$$-$ Select $-$

Stockholders' Equity

$$-$ Select $-$

$-$ Select $-$

Total stockholders' equity fill in the blank ba$49$d$305$b$010$fb$2\_14$

Total liabilities and stockholders' equity $fill in the blank ba$49$d$305$b$010$fb$2\_15$

Question Content Area

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

Ebony Interiors

Balance Sheet

March $31,2018$

Assets

$$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

Total assets $fill in the blank bfc$7$ccf$9$ffad$01$e$\_7$

Liabilities

$$-$ Select $-$

Stockholders' Equity

$$-$ Select $-$

$-$ Select $-$

Total stockholders' equity fill in the blank bfc$7$ccf$9$ffad$01$e$\_14$

Total liabilities and stockholders' equity $fill in the blank bfc$7$ccf$9$ffad$01$e$\_15$

Question Content Area

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 $057983$f$5000702$c$\_1$

c$.$ Determine the amount of net income for March, assuming that no additional common stock was issued, but dividends of $$36,700$ were paid during the month.

$fill in the blank $057983$f$5000702$c$\_2$