[The following information applies to the questions displayed below.]

Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows:

Cash	$	6,700	Accounts payable	$	8,800
Accounts receivable		30,700	Unearned revenue		3,140
Supplies		1,540	Long-term note payable		47,600
Equipment		9,600	Common stock		1,640
Land		8,000	Additional paid-in capital		6,560
Building		26,800	Retained earnings		15,600

1. Rebuilt and delivered five pianos in January to customers who paid $19,000 in cash.
2. Received a $510 deposit from a customer who wanted her piano rebuilt.
3. Rented a part of the building to a bicycle repair shop; received $860 for rent in January.
4. Received $7,800 from customers as payment on their accounts.
5. Received an electric and gas utility bill for $430 to be paid in February.
6. Ordered $910 in supplies.
7. Paid $1,940 on account in January.
8. Received from the home of Stacey Eddy, the major shareholder, a $920 tool (equipment) to use in the business in exchange for 110 shares of $1 par value stock.
9. Paid $14,700 in wages to employees who worked in January.
10. Declared and paid a $2,200 dividend (reduce Retained Earnings and Cash).
11. Received and paid cash for the supplies in (f).

3. Using the data from the T-accounts, amounts for the following at the end of January of the second year, were:

1)Revenue-expense=net income

Ans:

1)_______-_______=_________

2) Assets=Liabilities+stockholders equity

2)__________=_________+_________