1. Determine the missing amounts for each independent case below. Assume the amounts given are at the end of the company's first year of operation.
Company total total total total Netincome Stockholder's
Name Revenue Assets Expensses Liabilites ( Loss ) Equity
Randolph $600,000 $450,000 $350,000 $130.000
Newman $105,000 $80,000 $10,000 $75,000
Wiseman $190,000 $70,000 $30,000 $100,000
Martin $180,000 $ 215,000 $115,000 $75,000
van tassel $55,000 $75,000 $19,000 $79,000
2- Gail's Greenhouse, Inc., a small retail store which sells house plants, started business on January 1, 2010. At the end of January, 2010, the following information was available:
Requirements:
A. Using the above information, prepare the income statement for Gail's Greenhouse for the month ended January 31, 2010.
B. What is the amount of cash flows provided by operating activities to be presented on the statement of cash flows?
