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Instructions Income Statement, Statement of Retained Earnings, and Balance Sheet The following list, in alphabetical order, shows the various items that regularly appear on the
Instructions Income Statement, Statement of Retained Earnings, and Balance Sheet The following list, in alphabetical order, shows the various items that regularly appear on the financial statements of Maple Park Theatres Corp. The amounts shown for balance sheet items are balances as of September 30, 2016 (with the exception of retained earnings, which is the balance on September 1, 2016), and the amounts shown for income statement items are balances for the month ended September 30, 2016. Accounts payable $17,550 Furniture and fixtures $35,000 Accounts receivable 6,210 Land 26,400 14,660 Notes payable 18,000 Advertising expense Buildings 60,500 Projection equipment 23,300 Capital stock 47,000 Rent expense-movies 51,490 Cash 15,000 Retained earnings 80,250 Concessions revenue 60,620 Salaries and wages expense 46,790 Cost of concessions sold 94,270 23,180 Ticket sales 8,400 Water, gas, and electricity Dividends paid during the month 6,760 Income Statement Maple Park Theatres Corp. Income Statement For the Month ended September 30, 2016 Revenues: $ Total revenues $ Expenses: $ Total expenses ol Statement of Retained Earnings 2. Using the data given, prepare a statement of retained earnings for the month ended September 30, 2016. Maple Park Theatres Corp. Statement of Retained Earnings For the Month ended September 30, 2016 Balance sheet 3. Using the data given, prepare a balance sheet at September 30, 2016. Maple Park Theatres Corp. Balance Sheet September 30, 2016 Assets Total assets Liabilities and stockholders' equity Total liabilities and stockholders' equity Final Question 4. You have $1,000 to invest. You want to use it to buy stock in Maple Park? Which of the following information would you least consider before making a final decision? 1. Whether the company is operating at a profit? 2. The amount of dividends paid by the company. 3. The amount of salaries the company pays. 4. Current market price of the stock
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