Consider the journal entries below.

General JournalPage GJ2DateAccount/ExplanationFDebitCredit30/Nov

Cash

650

Interest Earned

650

Received Cash for Interest Earned

30/Nov

Dividends

800

Cash

800

Dividends paid

The financial statements on the left were prepared without taking these transactions into account. Modify the copies on the right to show how these transactions would affect the financial statements.

X-cell Inc.Income StatementFor Month Ended November 30, 2014 Revenues10,613Expenses1,858Net Income8,755

X-cell Inc.Income StatementFor Month Ended November 30, 2014 Revenues10,613Expenses1,858Net Income8,755

X-cell Inc.Statement of Changes in EquityFor Month Ended November 30, 2014 ShareRetainedTotal CapitalEarningsEquityBalance, November 1000Issuance of shares2,800 2,800Net income 8,7558,755Dividends (1,863)(1,863)Balance, November 302,8006,8929,692

X-cell Inc.Statement of Changes in EquityFor Month Ended November 30, 2014 ShareRetainedTotal CapitalEarningsEquityBalance, November 1000Issuance of shares2,800 2,800Net income 8,7558,755Dividends (1,863)(1,863)Balance, November 302,8006,8929,692

X-cell Inc.Balance SheetNovember 30, 2014Assets Cash6,800 Accounts receivable4,000 Supplies5,492 Total assets 16,292Liabilities Accounts payable5,100 Unearned rent1,500 Total liabilities 6,600Equity Share capital2,800 Retained earnings6,892 Total equity 9,692Total liabilities and equity 16,292

X-cell Inc.Balance SheetNovember 30, 2014Assets Cash6,800 Accounts receivable4,000 Supplies5,492 Total assets 16,292Liabilities Accounts payable5,100 Unearned rent1,500 Total liabilities 6,600Equity Share capital2,800 Retained earnings6,892 Total equity 9,692Total liabilities and equity 16,292