After its first month of operations, the following amounts were taken from the accounting records of Mata Hari Realty Inc. as of April 30, 2004. Mata Hari Realty uses the cash basis of accounting.
|
Capital stock
|
$ 5,000
|
Notes payable
|
$15,000
|
|
Cash
|
10,750
|
Rent expense
|
3,000
|
|
Dividends
|
2,000
|
Retained earnings
|
0
|
|
Interest expense
|
1,000
|
Salaries expense
|
4,500
|
|
Land
|
18,500
|
Sales commissions
|
24,750
|
|
Miscellaneous expense
|
1,250
|
Utilities expense
|
3,750
|
Prepare an income statement for the month ending April 30, 2004.