this is accounting not stats!

Required Information E3-16 Preparing an Income Statement, Identifying Cash Flow Effects, and Analyzing Results LO3-5 [The following information applies to the questions displayed below.) Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet Inc. The following transactions occurred in March: a. Received $94,000 cash from each of the two shareholders to form the corporation, in addition to $3,400 In accounts receivable, $8,100 in equipment, a van (equipment) appraised at a fair value of $15,800, and $1,900 in supplies. Gave the two owners each 780 shares of common stock with a par value of $1 per share. b. Purchased a vacant store for sale in a good location for $500,000, making a $100,000 cash down payment and signing a 10-year mortgage from a local-bank for the rest c Borrowed $64.000 from the local bank on a 10 percent, one-year note. d. Purchased and used food and paper supplies costing $13,636 in March; paid cash. e. Catered four parties in March for $5,600, $1,880 was billed, and the rest was received in cash. Made and sold food at the retail store for $12,600 cash. 9. Received a $560 telephone bill for March to be paid in April h. Pald $503 in gas for the van in March. L. Paid $9,080 in wages to employees who worked in March. j. Paid a $440 dividend from the corporation to each owner k. Purchased $64,000 of equipment (refrigerated display cases, cabinets, tables, and chairs) and renovated and decorated the new store for $27.000 (added to the cost of the buildingl: paid cash. E3-16 Part 1 Required: 1. Prepare an income statement in good form for the month of March TRAVELING GOURMET, INC. Income Statement (unadjusted) Revenues Food sales revenue Catering sales revenue 0 Total revenues Expenses: Supplies expense Utilities expense Wages expense Total costs and expenses 0