Harris Designers began operations on April 1. The financial statements for Harris Designers are shown below for t month ended April 30, (the first month of operations). Determine the missing amounts. Place your answers in the spaces provided below.

Hint: Use the interrelationships among the financial statements to solve this problem.

Harris Designers
Income Statement
For the Month Ended April 30
Fees earned		$27,000
Operating expenses:
Wages expense	$5,250
Rent expense	?
Supplies expense	4,600
Utilities expense	400
Miscellaneous expense	1,250
Total operating expenses		?
Net income		$

Harris Designers
Statement of Owner's Equity
For the Month Ended April 30
Lori Harris, capital, April 1		$0
Investment on April 1	$35,000
Net income for April	?
	$
Less withdrawals	6,000
Increase in owner's equity
Lori Harris, capital, April 30		$38,100

Harris Designers
Balance Sheet
April 30
Assets
Cash	$
Supplies	8,100
Land	?
Total assets	$55,900
Liabilities
Accounts payable	$
Owner's Equity
Lori Harris, capital
Total liabilities and owner's equity	$

Use the minus sign to indicate cash outflows, decreases in cash, and cash payments.

Harris Designers
Statement of Cash Flows
For the Month Ended April 30
Cash flows from operating activities:
Cash received from customers	$23,000
Deduct cash payments for expenses and payments to creditors	(4,200)
Net cash flow from operating activities		$18,800
Cash flows from investing activities:
Cash payments for acquisition of land		(17,000)
Cash flows from financing activities:
Cash received as owner's investment	$
Deduct cash withdrawal by owner
Net cash flow from financing activities
Net cash flow and April 30 cash balance		$