BINGO CORPORATION Income Statement For the Month (through transaction #1) Revenues Services to customers $25,000 Expenses Wages $ 8,000 Utilities 2,000 10,000 Net income $15,000 BINGO CORPORATION Statement of Retained Earnings For the Month (through transaction #1) Beginning retained earnings $ - Plus: Net income 15 000 $15,000 Less: Dividends - Ending retained earnings $15,000 BINGO CORPORATION Balance Sheet As of Completion of Transaction #1 Assets Cash $28,000 Accounts receivable 6,000 Building M Total assets Liabilities Wages payable $ 3,000 Notes payable _92.9_0_0_ Total liabilities $95,000 Stockholders' equity Caoital stock $50.000