Missing amounts from financial statements

The financial statements at the end of Wolverine Realty$$s first month of operations are as follows:

By analyzing the interrelationships among the four financial statements, determine the proper amounts for the missing items. Use the minus sign to indicate cash outflows, cash payments, and decreases in cash in the Statement of Cash Flows.

Wolverine Realty

Income Statement

For the Month Ended April $30,20$Y$0$

Line Item Description Amount Amount

Fees earned $fill in the blank $1$

Expenses:

Wages expense $$308,000$

Rent expense $108,000$

Supplies expense fill in the blank $2$

Utilities expense $20,000$

Miscellaneous expense $22,000$

Total expenses $(492,000)$

Net income $$263,000$

Wolverine Realty

Statement of Stockholders' Equity

For the Month Ended April $30,20$Y$0$

Line Item Description Common

Stock Retained

Earnings Total

Balances, April $1,20$Y$0$ $$0$ $$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 $120,000120,000$

Balances, April $30,20$Y$0$ $fill in the blank $7$

$fill in the blank $8$

$fill in the blank $9$

Wolverine Realty

Balance Sheet

April $30,20$Y$0$

Line Item Description Amount Amount

Assets

Cash $$463,500$

Supplies $13,500$

Land $154,000$

Total assets $fill in the blank $10$

Liabilities

Accounts payable $$113,000$

Stockholders$$ Equity

Common stock $$375,000$

Retained earnings fill in the blank $11$

Total stockholders$$ equity fill in the blank $12$

Total liabilities and stockholders$$ equity $fill in the blank $13$

Wolverine Realty

Statement of Cash Flows

For the Month Ended April $30,20$Y$0$

Line Item Description Amount Amount

Cash flows from $($used for$)$ operating activities:

Cash received from customers $fill in the blank $14$

Cash paid for expenses and to creditors $(392,500)$

Net cash flows from operating activities $fill in the blank $15$

Cash flows from $($used for$)$ investing activities:

Cash paid for land fill in the blank $16$

Cash flows from $($used for$)$ financing activities:

Cash received from issuing common stock $fill in the blank $17$

Cash paid for dividends fill in the blank $18$

Net cash flows from financing activities fill in the blank $19$

Net increase $($decrease$)$ in cash $fill in the blank $20$

Cash balance, April $1,20$Y$00$

Cash balance, April $30,20$Y$0$ $fill in the blank $21$