The financial statements at the end of Wolverine Realty's first month of operations are as follows:

Instructions
By analyzing the interrelationships among the four financial statements, determine the proper amounts for (a) through (p).

Transcribed Image Text:

Wolverine Realty Income Statement For the Month Ended April 30, 2019 $ (a) Fees earned. Expenses Suppliks exyce (lo) 20,000 25,000 HisxllaouseIe. . Total expenses 475,000 21,000 Wolverine Realty Statement of Owner's Equity For the Month Ended April 30, 2019 Dakota Rowe, capital Aprl1, 2019 Irneicni on April 1,2019. $ (C) S,000 income for April .. (125,000 Dakota Rowe, capital, April 30, 2019 $ (f) Wolverine Realty Balance Sheet April 30, 2019 Assets $462,500 12,500 50,000 Liabilities Pxxxouis puaysallke 100,000 Owner's Equity Dakota Rowe, alia Remer, capital .. . Wolverine Realty Statement of Cash Flows For the Month Ended April 30, 2019 Cash flows from operating activities: Cash receipts from customers.... Cash payments for expenses and payments to creditors..... Net cash flow from operating activities... . . . . . . . . . . . . .. (387,500) $ (k) Cash flows from investing activities: Cash payments for acquisition of land Cash flows from finanig acivities: Cas h receipt of owners investment Net cash flow from financing activities Net increase (decrease) in cash and April 30, 2019, cash balance