Can anyone help me with this? Thanks

Case 2-1 Maynard Company (A)* Diane Maynard made the following request of a owned all the stock of Maynard Company. At the end friend of June, Diane Maynard paid herself an S11,700 divi- dend and used the money to repay her loan from the My bookkeeper has quit, and I need to see the balance company. sheets of my company. He has left behind a book with the numbers already entered in it. Would you be will- Questions ing to prepare balance sheets for me? Also, any com ments you care to make about the numbers would be Prepare balance sheets as of June and as of June appreciated. The Cash account is healthy, which is a good sign, and he has told me that the net income in 30, in proper format. June was S19,63 2. Make comments about how the financial condition The book contained a detail record of transac as of the end of June compared with that at the be- ginning of June tions, and from it the friend was able to copy off the balances at the beginning of the month and at the end 3. Why do retained earnings not increase by the of the month as shown in Exhibit 1. Diane Maynard amount of June net income? 4. As of June 30, do you feel that Maynard Company is worth the amount in Shareholder's Equity, Professor Robert N. Anthony. $619,446? Explain. EXHIBIT 1 Account Balances une 1 30 June Accounts payable 8,517 21,315 Accounts receivable 21,798 26,505 Accrued wages payable 1,974 2,202 Accumulated depreciation on building 156,000 57,950 Accumulated depreciation on equipment 5,304 5,928 8,385 29,250 Bank notes payable 585,000 585,000 Building Capital stock 390,000 390,000 Cash 34,983 66,660 Equipment (at cost) 13,260 36,660 Land 89,700 89,700 26,520 Merchandise inventory 29,835 Note receivable, Diane Maynard 11,700 Other noncurrent assets 4,857 5,265 Other noncurrent liabilities 2,45 2,451 Prepaid insurance 3,150 2,826 Retained earnings 221,51 229,446 Supplies on hand 5,559 6,630 Taxes payable 5,700 7,224