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Required: Solve for the missing amounts. NOTE: When an amount on one financial statement is again shown on another statement, you MUST reference the cell
Required: Solve for the missing amounts. NOTE: When an amount on one financial statement is again shown on another statement, you MUST reference the cell from the earlier statement rather than calculate the amount, thus indicating the relationship between the two statements. MARTA COMMUNICATIONS, INC Income Statement For the Month Ended March 31, 20X1 Sales Revenues $34,500 Expenses: Rent Expense Salaries Expense Utilities Expense Income Tax Expense 2,600 4,800 800 $4,100 Net income MARTA COMMUNICATIONS, INC. Statement of Stockholders' Equity For the Month Ended March 31,20X1 Common Stock Retained Earnings Total Beginning Balance (March 1,20X1) Issuance of common stock $0 $14,000 $0 $14,000 $0 Issuance of common stock Add: Net income for March Less: Dividends Ending Balance (March 31,20X1) $14,000 4,100 (500) $17,600 $14,000 (500) $14,000 MARTA COMMUNICATIONS, INC. Balance Sheet At March 31, 20X1 Assets Liabilities $3,400 Accounts payable $6,800 Cash Accounts receivable Supplies Land Stockholders' Equity 2,300Common stock 12,000 Retained earnings 14,000 Total Assets Total Liabilities and Stockholders' Equity
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