Project 2: Review of Merchandising Cycle

Needs Help with the last few blank ones.

Answer is complete and correct Income Statement For the Month Ended February 29 Revenues Sales Revenue S 25,550. Less: Sales Discounts 110 4375 Less: Sales Returns and Allowance Net Sales 21,065 Cost of Goods Sold 9,360 Gross Profit Bad Debt Expense S 890 Insurance Expense 700. nterest Expens 155 Rent Expens 1,700 Utility Expense 700 Wages Expense 5.200. Total Expenses 9,345 Interest Revenue 19. Net Income Answer is complete and correct Statement of Retained Earnings For the Month Ended February 29 Retained Earnings. Beginning 4,820 of Period Add: Net income 2,379 Less: Dividends 400. Retained Earnings, End of 6,799 Period Answer is complete and correct Balance Sheet At February 29 Liabi Current Liabilities Current Assets Cash V$ 11,430V Accounts Payable V$ 700 Accounts Receivable 15.375 Wages Payable 2,600 Inventory 3.660 Interest Payable 155 Notes Receivable Total current Assets S 31.153 Total Current Liabilities 3455 Notes Payable 15,500 Total liabilities Stockholders' Equity Contributed Capital 5,400 Retained Earnings 6,799 Total Stockholders' Equity 122,199 Total Liabilities and Stockholders' 31.154 Equity. Total Assets