After its first month of operations the following amounts we

After its first month of operations, the following amounts were taken from the accounting records of Big Mountain Realty Inc. as of June 30, 20Y9. Cash Common stock Dividends Interest expense Land Miscellaneous expense 43,000 Notes payable $50,000 75,000 Rent expense 8,000 2,000 Retained earnings 300 Salaries expense 50,000 100,000 Sales commissions 90,000 10,000 1,700 Utilities expense Prepare a statement of stockholders\' equity for the month ending June 30, 20Y9. If an amount box does not require an entry, leave it blank or enter \"O\". Big Mountain Realty Inc. Statement of Stockholders\' Equity For the Month Ending une 30, 20Y9 Common Stock Retained Earnings Total 0101 v v [ 0) v 75,000 X 10,000 X -v 75,000 [ Balances, June 1, 20Y9 Issued common stock V Net income Dividends Balances, June 30, 20Y9 - 7 0| 2,000|V | 2,000 | S-

Solution

INCOME STATEMENT Particulars Amount Amount Sales Commission $            90,000 Less : Expenses Cost of Goods Sold Salary Expenses $               50,000 Rent Expenses $                  8,000 Utiliites Expenses $               10,000 Interest Expenses $                     300 Miscllaneous Expenses $                  1,700 Total Expenses $            70,000 Net Income $            20,000 Less: Dividends 2000 Addition to Retaiend Earnings $            18,000 STATEMENT SHOWING STOCKHOLDER\'S EQUITY FOR THE MONTH ENDING, JUNE 30 2019 Common Stock Rertained Earnings Total Balance , June 01 20Y9 = $                         -   $                     -   $                    -   Issued Common Stock $               75,000 $                     -   $           75,000 Net Income $                         -   $            20,000 $           20,000 Dividends $                         -   $              2,000 $             2,000 Balance , June 30 20Y9 = $               75,000 $            18,000 $           93,000