The post-closing trial balance of the Start Import Company at March 31 is as follows. (25 points)Required:

1. Prepare the income statement for April (20 Points)
2. What is the ending balance for cash in April? Show your steps. (5 points)

	Debit	Credit
Cash	$ 421,000
Accounts Receivable	301,000
Inventory	604,000
Building and Equipment	1,560,000
Accumulated Depreciation		$ 240,000
Accounts Payable		446,000
Salaries Payable		45,000
Common Stock		1,410,000
Retained Earnings	__________	745,000
	$2,886,000	$2,886,000

Transactions during April and additional information follow.

	Cash sales	60,000
	Sales on account	$600,000
	Cash collected on accounts receivable	340,000
	Salaries paid in cash	190,000
	Salaries earned on April 30, but not yet paid	28,000
	Miscellaneous expenses paid in cash	39,000
	Merchandise purchased on account	430,000
	Accounts payable paid in cash	290,000
	Merchandise inventory, April 30	660,000
	Depreciation expense in April	15,000