Reference no: EM131789841

Question - Use the following information to build a balance sheet, income statement, and statement of changes in retained earnings for the month of May

1. On may 1, CAsting issued 3,000 shares of its common stock for $10,000

2. On MAy 3, Casting borrowed $20,000, signing a 10-year, 7% note

3. On may 9, CAsting paid cash for $8,000 of equipment

4 on may 12, casting purchased $700 of office supplies on credit from suzy's supplies; payment to be made in 3o days

5. On may 13, casting completed a jove for a customer and received $900

6. On may 15 the company completed $600 of work for a customer on account

7. On may 22, casting received may's phone bill of $450 and paid it

8. On may 23, the company received a $275 electric bill for marys utilities to be paid in June

9. On may 25 casting received half the amount owed from the may 15 transaction (above)

10. On may 27 casting paid half of the amount owed to suzys supplies

11. On may 30, casting corporation paid dividends of $500 dollars to its share holders