June 1999 Following:

ticket revenue	180000
equipment rent expense	50000
film rent expense	53400
concession revenue	29600
advertising expense	18600
salaries expense	60000
utilities expense	14100
cash dividends declared and paid	12000

Balance sheet figures at June 30 include the following:

cash	140000
land	148000
accounts payable	87600
capital stock	114000
retained earnings as of June 1, 1999	84900

1) Prepare an income statement for June 1999.

2) Prepare a statement of retained earnings for June 1999.

3) Prepare a balance sheet as of June 30, 1999.

4) How solvent does this company appear to be?