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Income Statement and Balance Sheet On March 1, Amy Dart began Dart Delivery Service, which provides delivery of bulk mailings to the post office
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, Cart invested $15,000 of her own funds in the firm and borrowed $6,000 from her father on a six-month, non-interest-bearing not payable. The following information is available at March 31: $9,700 Delivery fees earned $19,300 Accounts receivable Rent expense 1,500 Cash 12,900 Advertising expense 900 Supplies 6,500 Supplies expense 2,700 Notes payable 6,000 Accounts payable 1,200 Insurance expense 800 Salaries expense 6,300 Common stock 15,000 Miscellaneous expense 200 Retained earnings ? a. Prepare an income statement for the month of March. b. Prepare a balance sheet as of March 31. Note: Balance sheet accounts are listed on the balance sheet in a certain order. Refer to Columbia's Balance Sheet in Exhibit 1-6 in the textbook and enter answers in the appropriate order.
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