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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 2,600 Rent Expense Salaries Expense Utilities Expense 4,800 800 Income Tax Expense $4,100 Net income MARTA COMMUNICATIONS, INC Statement of Stockholders' Equity For the Month Ended March 31, 20X1 Retained Earnings Common Stock Total Beginning Balance (March 1,20X1) S0 S0 S0 Issuance of common stock $14,000 $14,000 4,100 Add: Net income for March Less: Dividends (500) $17,600 (500) Ending Balance (March 31,20X1) $14,000 MARTA COMMUNICATIONS, INC Balance Sheet At March 31, 20X1 Assets Liabilities $6,800 Cash $3,400 Accounts payable Stockholders' Equity Accounts receivable Supplies 2,300Common stock 14,000 Land 12,000Retained earnings Total Assets Total Liabilities and Stockholders' Equity
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