Financial Statements

The transactions and integrated financial statement framework for Terry Mason for February 20Y4 appear below:

Terry Mason organized The Fifth Season at the beginning of February 20Y4. During February, The Fifth Season entered into the following transactions:

1. Terry Mason invested $30,500 in The Fifth Season in exchange for capital stock.
2. Paid $5,670 on February 1 for an insurance premium on a 1-year policy.
3. Purchased supplies on account, $2,100.
4. Received fees of $42,385 during February.
5. Paid expenses as follows: wages, $22,200; rent, $3,700; utilities, $1,850; and miscellaneous, $2,035.
6. Paid dividends of $7,500.

There was $1,365 of supplies on hand as of February 28.

There was $1,365 of supplies on hand as of February 28. Balance Sheet Statement of Cash Flows Assets Liabilities Stockholders' Equity Cash + Supplies + Prepaid Insurance Accounts Payable + Common Stock + Retained Earnings a. Investment 30,500 30,500 b. Pald Insurance -5,670 5,670 Balances 24,830 5,670 30,500 c. Purchased supplies 2,100 2,100 Balances 24,830 2,100 5,670 2,100 30,500 d. Fees earned 42,395 42,385 Balances 67,215 2,100 5,670 2,100 30,500 42,385 c. Pald expenses -29,785 -29,785 Balances 37.430 2.100 5,670 2.100 30.500 12,600 t. Paid dividends -7,500 -7,500 Balances 29,930 2,100 2,100 30,500 5,100 5,670 -173 11. Insurance expense -173 Balances 29,930 2,100 5,197 2,100 30,500 4,627 32. Supplies expense -725 -735 Balances, February 28 29,930 1,365 5,197 2,100 30,500 3,892 Statement of Cash Flows Income Statement a. Financing $30,500 d. Fees earned $42,385 b. Operating -5,670 e. Wages expense -22,200 -3,700 d. Operating 42,385 e. Rent expense e. Operating -29,785 e. Utilities expense -1,850 -2,035 f. Financing -7,500 e. Miscellaneous expense Increase in cash $29,930 al. Ins, exp. -473 a2. Supplies exp. -735 Net Income $11,392 Prepare an income statement for February Prepare an income statement for February. The Fifth Season Income Statement For the Month Ended February 28, 2014 Operating expenses: Total expenses Prepare a retained earnings statement for February. If an amount box does not require an entry, leave it blank or enter zero "0". The Fifth Season Statement of Stockholders' Equity For the Month Ended February 28, 2014 Common Stock Retained Earnings Balance, February 1 Total Balance, February 28 $ Prepare a balance sheet for February The Fifth Season Balance Sheet February 28, 2014 Assets Total assets Liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Dronara etatoment of paeh flowe for Fahrrani TF WAHIT nevar ie ar antar "n" Enter nat reh nutflowe se nanative mainte Prepare a statement of cash flows for February. If your answer is zero enter "O". Enter net cash outflows as negative amounts. The Fifth Season Statement of Cash Flows For the Month Ended February 28, 2014 Cash flows from operating activities: Cash flows from financing activities