The following information applies to the questions displayed

/The following information applies to the questions displayed below Five Individuals organized Miami Music Corporation on January 1. At the end of January 31, the following monthly financial data are avallable: Total Revenues Operating Expenses Cash Accounts Receivable Supplies Accounts Payable Common Stock $134,000 90,800 32.300 25,600 41,300 23,900 32.100 No divicends were declared or paic during Jonuary 10.00 points

Solution

(1) Income Statement:-

Total Revenue

134000

Operating Exp

90800

Net Income

43200

(2) Balance Sheet :-

Assets

Cash

32300

A/c Receivable

25600

Supplies

41300

Total Assets

99200

Liabilities

A/c Payable

23900

Total Liabilities

23900

Stockholders Equity

Common Stock

32100

Retained Earnings

43200

Total Stockholder Equity

75300

Total Liabilities & Stockholders Equity

99200

Total Revenue	134000
Operating Exp	90800
Net Income	43200