increased stockholder 48 Obis and its revenue and The assets and Chapter 1 Introduction to Acourong and Business Briefly explain why issuing common stock and revenues increas equity, while dividents and expenses decreased stockholders' equity 3. Determine the net income for March How much did March transactions increase or decrease stockholders' equiry PR 1-28 Financial statements 1. Net income The assets and liabilities of Wilderness Travel Service on April 30, 2017 and $200.000 esyenses for the year are as follows Accounts payable Rent expense Accounts receivable Supplies Supplies expense Taxes expense Ulices expense 15.000 Wages expense Common stock was $25.000 and retained earnings was $155.000 as of May 1, 2016. Durine ih additional common stock of $10,000 was issued for cash, and dividends of $10,000 were paid $ 25.000 210.000 156.000 35.000 875.000 $ 75.000 9,000 12.000 10.000 38.000 525,000 76. During the Common stock Fees and Miscellaneous expense Instructions 1. Prepare an income statement for the year ended April 30, 2017. 2. Prepare a statement of stockholders' equity for the year ended April 30, 2017 3. Prepare a balance sheet as of April 30, 2017 4. What item appears on both the income statement and statement of stockholders' equiry ONS PR 1-3B Financial statements Jose Loder established Bronco Consulting on August 1, 2011. The effect of each transaction in the balances after each transaction for August follow: 1. Net income: $10.900 Stockholders' Equity Fees Salaries Rent Auto Supplies - Dividends + Eamed - Expense - Expense - Expense - Expense - Expert Receivable - Supplies - Payable + Stock Cash +75.000 +92.000 - 27.000 -27 000 99.000 Bal 134.000 -27,000 +33.000 125.000 - 27000 Bal 134.000 9 -71.000 Bal 111,000 h -58,000 -15.500 125.000 -27 000 -15.500 -58.000 - 58,000 -27,000 -15.500 -58.000 125.000 125.000 - 50.000 -5.000 - 27000 -15.500 125.000 -58.000 27000 -15.500 Instructions DEL TINPLATE 1. Prepare an income statement for the month ended August 31, 20Y1. 2. Prepare a statement of stockholders' equity for the month coded August 31, 2011 3. Prepare a balance sheet as of August 31, 2011 (Optionab Prepare a statement of cash flows for the month endine August 31.40 onth ending August 31, 20Y1