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Prepare the income statement for gails greenhouse

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Reference no: EM13492793

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?

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Reference no: EM13492793

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