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Income Statement and Balance Sheet On March 1, 2016, Amy Dart began Dart Delivery Service, which provides delivery of bulk mailings to the post
Income Statement and Balance Sheet On March 1, 2016, Amy Dart began Dart Delivery Service, which provides delivery of bulk mailings to the post office, neighborhood delivery of weekly newspapers, data delivery to computer service centers, and various other delivery services using leased vans. On February 28, Dart invested $75,000 of her own funds in the firm and borrowed $30,000 from her father on a six-month, non-interest-bearing note payable. The following information is available at March 31: Accounts Receivable $48,500 Delivery Fees Earned $96,500 Rent Expense 7,500 Cash 64,500 Advertising Expense 4,500 Supplies Inventory 32,500 Supplies Expense 13,500 Notes Payable 30,000 Accounts Payable Salaries Expense Miscellaneous Expense 6,000 Insurance Expense 31,500 Common Stock 1,000 Retained Earnings 4,000 75,000 ?
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