The financial statements at the end of Network Realty, Inc.s first month of operations are shown below.
Question:
The financial statements at the end of Network Realty, Inc.’s first month of operations are shown below. By analyzing the interrelationships among the financial statements, fill in the proper amounts for (a) through (s).
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NETWORK REALTY, INC. Income Statement For the Month Ended December 31, 20Y4 Fees earned..... $ (a) Operating expenses: Wages expense Rent expense Utilities expense Interest expense Miscellaneous expense. Total operating expenses. $33,120 18,000 (b) 1,800 3,960 67,500 $ (c) Net income.. NETWORK REALTY, INC. Statement of Stockholders' Equity For the Month Ended December 31, 20Y4 Common Retained Stock Earnings Total Balances, Dec. 1, 20Y4 Issued common stock $ (d) 75,000 57,500 (e) $ (f) 75,000 57,500 (e) $ (g) Net income Dividends Balances, Dec. 31, 20Y4 $75,000
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a 125000 Net income for December of 57500 plus total operating expenses of 67500 also the amount ...View the full answer
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