My answer is not complete - can you help me with what's missing.
Kate's Kite Company (a corporation) sells and repairs kites from manufacturers around the world. Its stores are located in rented space in malls and shopping centers. During its first month of operations ended April 30, Kate's Kite Company completed eight transactions with the dollar effects indicated in the following schedule: Ending Balance Accounts Cash Accounts Receivable Inventory Prepaid Expenses Store Fixtures Accounts Payable Unearned Revenue Common Stock ($1 par value) Additional Paid-in Capital Sales Revenue Cost of Sales Wages Expense Rent Expense Utilities Expense DOLLAR EFFECT OF EACH OF THE EIGHT TRANSACTIONS (a) (b) (d) (e) (f) (g) (h) $82,000 $(15,400) $ (6,200) $ 9,820 $(1,300) $ (2,480) $ 3,960 4,180 24,800 (7,000) 1,860 15,400 18,600 $1,480 2,510 10,000 72,000 14,000 1,450 7,000 1,300 620 1,480 Required: 2. Compute the ending balance in each account and prepare an unadjusted classified income statement and a classified balance sheet for Kate's Kite Company on April 30. Required: 2. Compute the ending balance in each account and prepare an unadjusted classified income statement and a classified balance sheet for Kate's Kite Company on April 30. X Answer is not complete. Complete this question by entering your answers in the tabs below. Req 2A Req 2B Compute the ending balance in each account and prepare an unadjusted classified income statement for Kate's Kite Company on April 30. KATE'S KITE COMPANY Income Statement (unadjusted) For the Month Ended April 30 Sales revenue $ 15,450 Total revenues $ 15,450 Expenses: Cost of sales Rent expense (7,000) (620) (1,300) (1,480) Wages expense Utilities expense Total operating expenses (10,400) $ 5,050 Required: 2. Compute the ending balance in each account and prepare an unadjusted classified income statement and a classified bala sheet for Kate's Kite Company on April 30. X Answer is not complete. Complete this question by entering your answers in the tabs below. Req 2A Req 2B Compute the ending balance in each account and prepare an classified balance sheet for Kate's Kite Company on April 30. KATE'S KITE COMPANY Balance Sheet Assets Current Assets: Liabilities and Shareholders' Equity Current Liabilities: Accounts payable $ 20,080 Unearned revenue 2,510 Cash Accounts receivable Inventory Prepaid expenses $ 70,400 4,180 17,800 1,860 94,240 Total current liabilities 22,590 Total current assets Long Term Assets: Store fixtures 15,400 Shareholders' Equity: Common stock Additional paid-in-capital 10,000 72,000 Total shareholders' equity Total Liabilities & Shareholders' Equity 82,000 $ 104,590 Total Assets $ 109,640
