Financial Statements

San Mateo Health Care Inc. is owned and operated by Rachel Fields, the sole stockholder.

During January 20Y6, San Mateo Health Care entered into the following transactions:

Jan. 1		Received $27,000 from Hillard Company as rent for the use of a vacant office in San Mateo Health Cares building. Hillard paid the rent nine months in advance.
1		Paid $6,000 for a one-year general insurance business policy.
6		Purchased supplies of $1,800 on account.
9		Collected $32,000 for services provided to customers on account.
11		Paid creditors $5,000 on account.
18		Invested an additional $10,000 in the business in exchange for common stock.
20		Billed patients $52,000 for services provided on account.
25		Received $15,000 for services provided to customers who paid cash.
30		Paid expenses as follows: wages, $31,000; utilities, $8,500; rent on medical equipment, $5,300; interest, $200; and miscellaneous, $3,000.
30		Paid dividends of $8,000 to stockholder (Dr. Fields).

Adjustment data for San Mateo Health Care Inc. for January are as follows:

1. Insurance expired, $900.
2. Supplies on hand on January 31, $1,200.
3. Depreciation on building, $2,300.
4. Unearned rent revenue earned, $3,000.
5. Wages owed employees but not paid, $2,900.
6. Services provided but not billed to patients, $5,000.

Presented in the integrated financial statement format are after-adjustment balances for January.

Instructions:

Fill:

A) INCOME STATEMENT

B) STOCKHOLDER'S EQUITY

C) BALANCE SHEET

San Mateo Health Care Inc. Income Statement For the Month Ended January 31, 2016 Fees earned Operating expenses: Wages expense Utilities expense Rent expense Depreciation expense Supplies expense Insurance expense Interest expense Miscellaneous expense Total operating expenses Operating income Other income: Rent revenue Net income Feedback Check My Work An income statement lists revenues and expenses. When revenues are more than the expenses, the difference is net income. Prepare a statement of stockholders' equity for January. For those boxes in which no entry is required, leave the box blank. San Mateo Health Care Inc. Statement of Stockholders' Equity For the Month Ended January 31, 2016 Common Stock Retained Earnings Total Bal. Jan. 1 Issued common stock Net income Dividends Bal. Jan. 31 San Mateo Health Care Inc. Balance Sheet January 31, 2016 Assets Current assets: Cash Accounts receivable Prepaid insurance Supplies Total current assets Property, plant, and equipment: Building Less accumulated depreciation Land Total property, plant, and equipment Total assets Liabilities Current liabilities: Accounts payable Unearned rent Wages payable Total current liabilities Long-term liabilities: Notes payable (due in ten years) Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity San Mateo Health Care Inc. Income Statement For the Month Ended January 31, 2016 Fees earned Operating expenses: Wages expense Utilities expense Rent expense Depreciation expense Supplies expense Insurance expense Interest expense Miscellaneous expense Total operating expenses Operating income Other income: Rent revenue Net income Feedback Check My Work An income statement lists revenues and expenses. When revenues are more than the expenses, the difference is net income. Prepare a statement of stockholders' equity for January. For those boxes in which no entry is required, leave the box blank. San Mateo Health Care Inc. Statement of Stockholders' Equity For the Month Ended January 31, 2016 Common Stock Retained Earnings Total Bal. Jan. 1 Issued common stock Net income Dividends Bal. Jan. 31 San Mateo Health Care Inc. Balance Sheet January 31, 2016 Assets Current assets: Cash Accounts receivable Prepaid insurance Supplies Total current assets Property, plant, and equipment: Building Less accumulated depreciation Land Total property, plant, and equipment Total assets Liabilities Current liabilities: Accounts payable Unearned rent Wages payable Total current liabilities Long-term liabilities: Notes payable (due in ten years) Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity