Wolverine Realty Income Statement For the Month Ended April 30, 20YO Fees earned Expenses: $300,000 Wages expense 100,000 Rent expense Supplies expense 20,000 Utilities expense 25,000 Miscellaneous expense (475,000) Total expenses $275,000 Net income Wolverine Realty Statement of Stockholders' Equity For the Month Ended AprilI 30, 20YO Total Common Stock Retained Earnings $0 $0 $0 Balances, April 1, 20YD Issued common stock Net income (125,000) (125,000) Dividends Balances, April 30, 20YO Wolverine Realty Balance Sheet April 30, 20YO Assets $462,500 Cash Supplies 12,500 Land 150,000 Total assets Liabilities Accounts payable $100,000 Stockholders' Equity Common stock Retained eamings $375.000 Total stockholders equity Sotal ablities and ockholders equity Wolverine Reality Statement of Cash Flows For the Month Ended April 30, 20YO Cash ws froms Csed for) aperating activities Cash receved from catomes Cash pd for eexpenses and to creditors et cash ow from operating s Cash ows fro (used for) inesting actvtes (387,500) Cash paid for land Retained Eareings $0 Tetal Common Stock $o Balances, Auril 2, 2012 IssUnd cmman sk Net incame (125.000) (12s,000) Dividends Baiances, Apel 30, 22/ olverine Reaity Balance Siheet April 30, 20Y0 Assets $462,500 Cash 12,500 Supplies 150,000 Land $ Tbtail assets Liabilities $100,000 Accounts payable Stockholders Equity $375.000 Common stock Retained eamings Total stockholders equity $ Total liabilities and stockholders' equity Wolverine Realty Statement of Cash Flows For the Month Ended April 30, 20YO Cash flows from (used for) operating activities: Cash received from customers Cash paid for expenses and to creditors (387,500) Net cash flows from operating activities Cash flows from (used for) investing activities: Cash paid for land Cash flows from (used for) financing activities: Cash received from issuing common stock Cash paid for dividends Net cash flows from financing activities Net increase (decrease) in cash Cash balance, April 1, 20YO Cash balance, April 30, 20YO 11