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Missing amounts from financial statements The financial statements at the end of Wolverine Realtys first month of operations are as follows: By analyzing the interrelationships

Missing amounts from financial statements

The financial statements at the end of Wolverine Realtys 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, 20Y0
Fees earned $
Expenses:
Wages expense $304,000
Rent expense 107,000
Supplies expense
Utilities expense 22,000
Miscellaneous expense 23,000
Total expenses (483,000)
Net income $270,000

Wolverine Realty
Statement of Stockholders' Equity
For the Month Ended April 30, 20Y0
Common Stock Retained Earnings Total
Balances, April 1, 20Y0 $0 $0 $0
Issued common stock
Net income
Dividends (120,000) (120,000)
Balances, April 30, 20Y0 $ $ $

Wolverine Realty
Balance Sheet
April 30, 20Y0
Assets
Cash $461,000
Supplies 11,000
Land 145,000
Total assets $
Liabilities
Accounts payable $92,000
Stockholders Equity
Common stock $375,000
Retained earnings $
Total stockholders equity
Total liabilities and stockholders equity $

Wolverine Realty
Statement of Cash Flows
For the Month Ended April 30, 20Y0
Cash flows from (used for) operating activities:
Cash received from customers $
Cash paid for expenses and to creditors (402,000)
Net cash flows from operating activities $
Cash flows from (used for) investing activities:
Cash paid for land $
Cash flows from (used for) financing activities:
Cash received from issuing common stock $
Cash paid for dividends
Net cash flows from financing activities
Net increase (decrease) in cash $
Cash balance, April 1, 20Y0 0
Cash balance, April 30, 20Y0 $

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