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Missing amounts from financial statements The financial statements at the end of Atlas Realty's first month of operations follow: By analyzing the interrelationships among the
Missing amounts from financial statements The financial statements at the end of Atlas Realty's first month of operations follow: By analyzing the interrelationships among the four financial statements, determine the missing amounts. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Use the minus sign to indicate cash outflows, cash payments, and decreases in cash in the Statement of Cash Flows. $395,000 Atlas Realty Income Statement For the Month Ended May 31, 2016 Fees earned Expenses: Wages expense Rent expense 50,000 Supplies expense 17,900 Utilities expense 14,800 Miscellaneous expense 4,500 Total expenses (290,600) Net income Atlas Realty Statement of Stockholders' Equity For the Month Ended May 31, 2016 Common Stock Retained Earnings $0 Total $0 $0 Balances, May 1, 2046 Issued common stock Net income Dividends Balances, May 31, 2016 $ Atlas Realty Balance Sheet May 31, 2016 Assets Cash $123,300 12,100 Supplies Land Total assets Liabilities Accounts payable $57,000 Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Atlas Realty Statement of Cash Flows For the Month Ended May 31, 2046 Cash flows from (used for) operating activities: Cash received from customers Cash paid for expenses and to creditors (245,700) Net cash flows from operating activities Cash flows from (used for) investing activities: Cash paid for acquisition of land Cash flows from (used for) financing activities: Cash received from issuing common stock $160,000 Cash paid for dividends (63,000) (123,000) Net cash flows from financing activities Net increase (decrease) in cash Cash balance, May 1, 2016 Cash balance, May 31, 2016
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