2023 The following list in alphabetical order shows the various items that regularly appear on the financial statements of Maple Park | Assignments Online

The following list, in alphabetical order, shows the various items that regularly appear on the financial statements of Maple Park Theatres Corp. The amounts shown for balance sheet items are balances as of September 30, 2012 (with the exception of retained earnings, which is the balance on September 1, 2012), and the amounts shown for income statement items are balances for the month ended September 30, 2012.

 

Accounts payable     $17,600                      Furniture and fixtures    $34,000

Accounts receivable     6,410                       Land                         26,000

Advertising expense     14,500                     Notes payable          20,000

Buildings                 60,000                        Projection equipment          25,000

Capital stock                 50,000                  Rent expense—movies      50,600

Cash                       15,230                        Retained earnings           73,780

Concessions revenue           60,300             Salaries and wages expense         46,490

Cost of concessions sold         23,450         Ticket sales                           95,100

Dividends paid during the month      8,400     Water, gas, and electricity         6,700

 

 

 

Required

 

1.  Prepare an income statement for the month ended September 30, 2012.

 

2.  Prepare a statement of retained earnings for the month ended September 30, 2012.

 

3.  Prepare a balance sheet at September 30, 2012.

 

4.  You have $1,000 to invest. On the basis of the statements you prepared, would you use it to buy stock in Maple Park?   Explain. What other information would you want before making a final decision?