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Missing Amounts from Financial Statements The financial statements at the end of Wolverine Realty's first month of operations are as follows: Required: Analyze the interrelationships
Missing Amounts from Financial Statements The financial statements at the end of Wolverine Realty's first month of operations are as follows: Required: Analyze the interrelationships among the four financial statements and enter the missing amounts. If an amount is zero, enter "O". Wolverine Realty Income Statement For the Month Ended April 30, 20Y3 Fees earned (a) Expenses: Wages expense $54,800 Rent expense 23,680 Supplies expense (b) Utilities expense 13,260 Miscellaneous expense 8,050 Total expenses 119,440 Net income $ 129,860 Feedback Wolverine Realty Statement of Owner's Equity For the Month Ended April 30, 20Y3 Dakota Rowe, capital, April 1, 20Y3 (C) Investment on April 1, 2016 $474,000 Net income for April (d) Withdrawals (52,100) Increase in owner's equity (e) Dakota Rowe, capital, April 30, 20Y3 $ (f) Wolverine Realty Balance Sheet May 31, 20Y3 Assets Cash $175,100 Supplies 10,470 Land 378,900 Total assets $ (9) Liabilities Accounts payable $12,710 Owner's Equity Dakota Rowe, capital (h) Total liabilities and owner's equity A (i) Use the minus sign to indicate cash outflows, decreases in cash, and cash payments. Wolverine Realty Statement of Cash Flows For the Month Ended April 30, 20Y3 Cash flows from (used for) operating activities: Cash received from customers () Cash paid for operating expenses and to creditors (117,200) Net cash flow from operating activities (k) Cash flows from (used for) investing activities: Cash paid for acquisition of land (1) Cash flows from (used for) financing activities: Cash received from owner as investment $ 2 (m) Cash withdrawals by owner (n) Net cash flow from financing activities (0) Net increase (decrease) in cash $ (p) Cash balance, April 1, 20Y3 0 Cash balance, April 30, 20Y3 $ (9) (
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