Income Statement and Balance Sheet On March 1, 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 $20,000 of her own funds in the firm and borrowed $8,000 from her father on a six-month, non-interest-bearing note payable. The following information is available at March 31: $10,700 Delivery Fees Earned $23,300 Accounts Receivable Rent Expense 2.500 Cash 12.700 Advertising Expense 1,100 Supplies Inventory 15,800 Supplies Expense 2.500 Notes Payable 8,000 Accounts Payable Salaries Expense Miscellaneous Expense 1,400 Insurance Expense 6,200 Common Stock 300 Retained Earnings 900 20,000 ? E DU Required a. Prepare an income statement for the month of March. Do not use negative signs with your answers. DART DELIVERY SERVICE Income Statement For the Month Ended March 31 + Expenses Advertising Expense Supplies Expense S Salaries Expense Insurance Expense Miscellaneous Expense Total Expenses $ b. Prepare a balance sheet as of March 31. DART DELIVERY SERVICE Supplies Total Assets Balance Sheet As of March 31 ASSETS 5 LIABILITIES 5 Notes payable Total Liabilities S STOCKHOLDERS EQUITY Total Stockholders' Equity S Total Liabilities and Stockholders' Equity S Next Accounts Payable Accounts Receivable Advertising Expense Cash tement for the month of March. s with your answers. ERY SERVICE Statement Ended March 31 Common Stock Delivery Fees Earned Insurance Expense Miscellaneous Expense Net Income Notes payable Revenue Rent Expense Retained Earnings et as of March 31. Salaries Expense DART DELIVERY SERVICE Supplies Balance Sheet As of March 31 Supplies Expense Supplies Total Assets LIABILITIES 5 Notes payable Total Liabilities STOCKHOLDERS EQUITY Previous Save Answers Total Stockholders Equity Total Liabilities and Stockholders' Equity Copyright 2023 Candides Business Publishers, All Rights Reserved | Tsuna afas I Brivac 1 Accessibility I Usecunde i Brunser Supers a ^ de