The financial statements at the end of Wolverine Realtys first month of operations are as follows:

Required:

Analyze the interrelationships among the four financial statements and enter the missing amounts. If an amount is zero, enter "0".

Wolverine Realty

Income Statement

For the Month Ended April 30, 20Y3

Fees earned$fill in the blank aee0cef8f076fd4_1

(a)

Expenses:

Wages expense$300,000

Rent expense100,000

Supplies expensefill in the blank aee0cef8f076fd4_2

(b)

Utilities expense20,000

Miscellaneous expense25,000

Total expenses475,000

Net income$275,000

Wolverine Realty

Statement of Owner's Equity

For the Month Ended April 30, 20Y3

Dakota Rowe, capital, April 1, 20Y3$fill in the blank 50d18ef4e069fc8_1

(c)

Investment on April 1, 20Y3$375,000

Net income for Aprilfill in the blank 50d18ef4e069fc8_2

(d)

Withdrawals(125,000)

Increase in owner's equityfill in the blank 50d18ef4e069fc8_3

(e)

Dakota Rowe, capital, April 30, 20Y3$fill in the blank 50d18ef4e069fc8_4

(f)

Wolverine Realty

Balance Sheet

April 30, 20Y3

Assets

Cash$462,500

Supplies12,500

Land150,000

Total assets$fill in the blank d8aaa3f9004b03e_1

(g)

Liabilities

Accounts payable$100,000

Owners Equity

Dakota Rowe, capitalfill in the blank d8aaa3f9004b03e_2

(h)

Total liabilities and owners equity$fill in the blank d8aaa3f9004b03e_3

(i)

Use the minus sign to indicate cash outflows, decreases in cash, and cash payments.

Wolverine Realty

Statement of Cash Flows

For the Month Ended April 30, 20Y3

Cash flows from (used for) operating activities:

Cash received from customers$fill in the blank cf8a20fc0030063_1

(j)

Cash paid for operating expenses and to creditors(387,500)

Net cash flows from operating activities$fill in the blank cf8a20fc0030063_2

(k)

Cash flows from (used for) investing activities:

Cash paid for acquisition of landfill in the blank cf8a20fc0030063_3

(l)

Cash flows from (used for) financing activities:

Cash received from owner as investment$fill in the blank cf8a20fc0030063_4

(m)

Cash withdrawals by ownerfill in the blank cf8a20fc0030063_5

(n)

Net cash flows from financing activitiesfill in the blank cf8a20fc0030063_6

(o)

Net increase (decrease) in cash $fill in the blank cf8a20fc0030063_7

(p)

Cash balance, April 1, 20Y3 0

Cash balance, April 30, 20Y3$fill in the blank cf8a20fc0030063_8

(q)