D F F G H M N B Given Information: Assets Expenses: Advertising Insurance expense Salaries expense Rent expense $10,000 16,000 45.000 6,000 Cash Accounts receivable Supplies Land $22.000 20,000 11,000 45,000 Liabilities: Salaries payable Notes payable 8,000 20.000 Revenues: Service revenue Interest revenue 90,000 5,000 4 Dividends: Dividends 5,000 Equity 8 7 .8 Common stock Retained earnings 40.000 17.000 20 (b) Balance Sheet Assets: 2 2 ? 2 ? Liabilities: ? ? ? 2 2 23 24 25 26 27 28 (a) Income Statement Revenues: ? 2 ? Total Revenue Expenses: ? ? 2 ? ? 2 Total Expenses Net income Equities: ? ? Total ? ? Total 29 30 Assets Liabilities + Equities Check your worksheet setup and formulas by changing Advertising Expense to $12.000, Rent Expense to $8,000, and Retained Earnings to $20,000 You should now have an out of balance condition of $1.000 (Total Assets of $98.000 and Total inbites plus Stockholders' Equity of $92000), with the validation message does not equal If you do not get this answer, review your worksheet and the formulas you used