On May 1, Nimbus Flying School, a company that provides flying lessons, was started with an investment of $46,093cash in the business. No additional investments were made in May, but the company paid dividends of $407during the month. Following are the assets and liabilities of the company on May 31, 2015, and the revenues and expenses for the month of May.

Cash$4,593 Notes Payable$28,000

Accounts Receivable8,293 Rent Expense1,454

Equipment65,093 Maintenance and Repairs Expense654

Service Revenue7,893 Gasoline Expense2,246

Advertising Expense1,593 Utilities Expense146

Accounts Payable2,493

income statement for the month of May.

Retained Earnings Statement for the month of May.

balance sheet at May 31.

income statement for May assuming the following data are not included above: (1) $958worth of services were performed and billed but not collected at May 31, and (2) $1,081of gasoline expense was incurred but not paid.

retained earnings statement for May assuming the following data are not included above: (1) $958worth of services were performed and billed but not collected at May 31, and (2) $1,081of gasoline expense was incurred but not paid.