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The financial statements at the end of the Network Realty, Inc.'s first month of operation are shown below. By analyzing t he iterrelationships among the
The financial statements at the end of the Network Realty, Inc.'s first month of operation are shown below. By analyzing t he iterrelationships among the financial statements, fill in the proper amounts for (a) through (s). If your answer is zero, enter '0'.
Income Statement For the Month Ended December 31, 20Y4 s (a) Operating expenses: Utilities expense Interest expense... 1,800 3,960 67500 $ (c) NETWORK REALTY, INC. Retained Earnings Statement For the Month Ended December 31, 20Y4 s(d) Less dividends..._.... Retained earnings, Dece S(g) NETWORK REALTY, INC. Balance Sheet December 31, 20Y4 Assets 175,000 225,500 Total assets Liabilities 105,000 Stockholders' Equity s(0) Retained earnin Total liabilities and stockholders' equity . .. . .. . S (0) NETWORK REALTY, INC. Statement of Cash Flows For the Month Ended December 31, 20Y4 Cash flows from operating activities: Cash received from customers Deduct cash payments for expenses.... $125,000 67500 Net cash flows from operating activities . . .. Cash flows used in investing activities: . . .. Cash payment for purchase of land............ (175,000) Cash flows from financing activities: Cash received from sale of capital stock Cash received from issuing notes payable Deduct cash dividends $75,000 $ (o) 12,000 Net cash flows from financing activities................ S (q) S (s)Step by Step Solution
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