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Missing amounts from financial statements The financial statements at the end of Atlas Realtys first month of operations follow: By analyzing the interrelationships among the

Missing amounts from financial statements

The financial statements at the end of Atlas Realtys 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.

Line Item Description Amount Amount
Fees earned $400,000
Expenses:
Wages expense $fill in the blank 1
Rent expense 45,000
Supplies expense 17,800
Utilities expense 14,300
Miscellaneous expense 5,000
Total expenses (286,100)
Net income $fill in the blank 2

Line Item Description Common Stock Retained Earnings Total
Balances, May 1, 20Y6 $0 $0 $0
Issued common stock fill in the blank 3 fill in the blank 4
Net income fill in the blank 5 fill in the blank 6
Dividends fill in the blank 7 fill in the blank 8
Balances, May 31, 20Y6 $fill in the blank 9 $fill in the blank 10 $fill in the blank 11

Line Item Description Amount Amount
Assets
Cash $123,600
Supplies 12,600
Land fill in the blank 12
Total assets $fill in the blank 13
Liabilities
Accounts payable $55,300
Stockholders Equity
Common stock $fill in the blank 14
Retained earnings fill in the blank 15
Total stockholders equity fill in the blank 16
Total liabilities and stockholders equity $fill in the blank 17

Line Item Description Amount Amount
Cash flows from (used for) operating activities:
Cash received from customers $fill in the blank 18
Cash paid for expenses and to creditors (243,400)
Net cash flows from operating activities $fill in the blank 19
Cash flows from (used for) investing activities:
Cash paid for acquisition of land (122,000)
Cash flows from (used for) financing activities:
Cash received from issuing common stock $150,000
Cash paid for dividends (61,000)
Net cash flows from financing activities fill in the blank 20
Net increase (decrease) in cash $fill in the blank 21
Cash balance, May 1, 20Y6 0
Cash balance, May 31, 20Y6 $fill in the blank 22

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