(Q) Problem 2-7A Preparing an income statement, statement of retained earnings, and balance sheet. LO ??

Problem 2-7A Preparing an income statement, statement of retained earnings, and balance sheet. LO РЗ Angela Lopez owns and manages a consulting firm called Metrix, which began operations on March 1. On March 31, Metrix shows the following selected accounts and amounts for the month of March. polnts $ 1,900 $ 6,000 Office supplies Rental revenue Equipment Salaries expense Consulting revenue Cash Utilities expense eBook 3,400 14,000 8,800 900 Advertising expense Prepaid insurance Accounts payable 480 1,400 2,580 2,900 2,400 280 Ask Note payable Accounts receivable Common stock 2,800 3,900 Note receivable Rent expense Unearned revenue 13,200 380 Dividends 2,400 References Required: 1. Prepare a March income statement for the business. 2. Prepare a March statement of retained earnings. The Retained Earnings account balance at March 1 was $0. 3. Prepare a March 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2.

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Problem 2-7A Preparing an income statement, statement of retained earnings, and balance sheet. LO ?? .
 
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