Financial Statements from the End-of-Period Spreadsheet

Triton Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepared for the year ended April 30, 20Y3:

During the year ended April 30, 20Y3, common stock of $4,000 was issued.

Account Title	Unadjusted Trial Balance Dr.	Unadjusted Trial Balance Cr.	Adjustments Dr.	Adjustments Cr.	Adjusted Trial Balance Dr.	Adjusted Trial Balance Cr.
Cash	13,880				13,880
Accounts Receivable	33,040				33,040
Supplies	3,500			2,940	560
Office Equipment	26,760				26,760
Accumulated Depreciation		3,670		1,750		5,420
Accounts Payable		8,920				8,920
Salaries Payable				430		430
Common Stock		11,000				11,000
Retained Earnings		22,700				22,700
Dividends	4,300				4,300
Fees Earned		62,280				62,280
Salary Expense	24,450		430		24,880
Supplies Expense			2,940		2,940
Depreciation Expense			1,750		1,750
Miscellaneous Expense	2,640				2,640
Total	108,570	108,570	5,120	5,120	110,750	110,750

Question Content Area

Based on the preceding spreadsheet, prepare an income statement for Triton Consulting.

Line Item Description	Amount	Amount
Accounts receivableCashEquipmentFees earnedSuppliesFees earned		$Fees earned
Expenses:
Accounts payableCashOffice equipmentSalaries payableSalary expenseSalary expense	$Salary expense
Accounts receivableDividendsFees earnedSuppliesSupplies expenseSupplies expense	Supplies expense
Accumulated depreciationDepreciation expenseFees earnedOffice equipmentSuppliesDepreciation expense	Depreciation expense
Accounts payableAccumulated depreciationCashMiscellaneous expenseRetained earningsMiscellaneous expense	Miscellaneous expense
Total expenses		Total expenses
Net incomeNet lossNet income		$Net income

Question Content Area

Based on the preceding spreadsheet, prepare a statement of stockholders equity for Triton Consulting. If an amount box does not require an entry, leave it blank. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign.

Line Item Description	Common Stock	Retained Earnings	Total
Balances, May 1, 20Y2Balances, April 30, 20Y3CashNet incomeSuppliesBalances, May 1, 20Y2	$Balances, May 1, 20Y2	$Balances, May 1, 20Y2	$Balances, May 1, 20Y2
Accounts payableAccounts receivableIssued common stockNet incomeNet lossIssued common stock	Issued common stock	Issued common stock	Issued common stock
Accounts payableAccounts receivableCashNet incomeNet lossNet income	Net income	Net income	Net income
Accounts payableCashDividendsFees earnedOffice equipmentDividends	Dividends	Dividends	Dividends
Balances, May 1, 20Y2Balances, April 30, 20Y3CashNet incomeSuppliesBalances, April 30, 20Y3	$Balances, April 30, 20Y3	$Balances, April 30, 20Y3	$Balances, April 30, 20Y3

Question Content Area

Based on the preceding spreadsheet, prepare a balance sheet for Triton Consulting.

Line Item Description	Amount	Amount
Assets
Current assets:
Accounts payableCashFees earnedOffice equipmentRetained earningsCash	$Cash
Accounts payableAccounts receivableFees earnedNet incomeSupplies expenseAccounts receivable	Accounts receivable
Accounts payableCashRetained earningsSupplies expenseSuppliesSupplies	Supplies
Total current assets		$Total current assets
Property, plant, and equipment:
Accounts payableDepreciation expenseOffice equipmentRetained earningsSuppliesOffice equipment	$Office equipment
Accounts payableAccumulated depreciationDepreciation expenseFees earnedIncome tax expenseAccumulated depreciation	Accumulated depreciation
Total property, plant, and equipment		Total property, plant, and equipment
Total assets		$Total assets
Liabilities
Current liabilities:
Accounts payableAccounts receivableNet incomeOffice equipmentRetained earningsAccounts payable	$Accounts payable
CashFees earnedOffice equipmentSalaries payableSalary expenseSalaries payable	Salaries payable
Total liabilities		$Total liabilities
Stockholders' Equity
Accounts payableCommon stockNet lossOffice equipmentSuppliesCommon stock	$Common stock
Accounts payableNet lossOffice equipmentRetained earningsSuppliesRetained earnings	Retained earnings
Total stockholders' equity		Total stockholders' equity
Total liabilities and stockholders' equity		$Total liabilities and stockholders' equity