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SLO Health Care Inc. is owned and operated by Morgan Denby, the sole stockholder. During January 2016, San Mateo Health Care entered into the

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SLO Health Care Inc. is owned and operated by Morgan Denby, the sole stockholder. During January 2016, San Mateo Health Care entered into the following transactions: January 1 Received $13,500 from Glenn Company as rent for the use of a vacant office in SLO Health Care's building. Glenn paid the rent nine months in advance. January 1 Paid $3,000 for a one-year general insurance business policy. January 6 Purchased supplies of $900 on account. January 9 Collected $16,000 for services provided to customers on account. January 11 Paid creditors $2,500 on account. January 18 Invested an additional $5,000 in the business in exchange for common stock.. January 20 Billed patients $26,000 for services provided on account. January 25 Received $7,500 for services provided to customers who paid cash. January 30 Paid expenses as follows: wages, $15,500 utilities, $4,250 rent on medical equipment, $2,650 interest, $100 and miscellaneous, $1,500. January30 Paid dividends of $4,000 to stockholder (Dr. Denby). Adjustment data for SLO Health Care Inc. for January are as follows: 1. Insurance expired, $450. 2. Supplies on hand on January 31, $600. 3. Depreciation on building, $1,150. 4. Unearned rent revenue earned, $1,500. 5. Wages owed employees but not paid, $1,450. 6. Services provided but not billed to patients, $2,500. Presented in the integrated financial statement format are after-adjustment balances for January Instructions: Prepare an income statement for January SLO HEALTH CARE INC. Income Statement Instructions: Prepare an income statement for January. SLO HEALTH CARE INC. Income Statement For the Month Ended January 31, 2016 Line Item Description Operating expenses: Amount Amount 100.00 00000000 Total operating expenses Other revenue: Prepare a statement of stockholders' equity for January. For those boxes in which no entry is required, leave the box blank. SLO HEALTH CARE INC. Statement of Stockholders' Equity For the Month Ended January 31, 20Y6 Common Retained SLO HEALTH CARE INC. Statement of Stockholders' Equity For the Month Ended January 31, 20Y6 Common Retained Stock Earnings Line Item Description Total 00000 Prepare a classified balance sheet for January. The note payable is due in ten years. SLO HEALTH CARE INC. Balance Sheet January 31, 20Y6 Line Item Description Assets Current assets: Total current assets Property, plant, and equipment: Amount Amount Amount 0000 Total current assets Property, plant, and equipment: Total property, blant, and equipment Total assets Current liabilities: Liabilities Total current liabilities Long-term liabilities: Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity 00 001 00 00.000 000

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