The following list, in alphabetical order, shows the various items that regularly appear on the financial statements of Maple Park…
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, 2010 (with the exception of retained earn- ings, which is the balance on September 1, 2010), and the amounts shown for income statement items are balances for the month ended September 30, 2010. Accounts payable $17,600 accounts receivable 6,410 advertising expense 14,500 buildings 60,000 capital stock 50,000 cash 15,230 concessions revenue 60,300 cost of concessions sold 23,450 dividends paid during the month 8,400 furniture and fixtures $34,000 land 26,000 notes payable 20,000 projection equipment 25,000 rent expense-movies 50,600 retained earnings 73,780 salaries and wages expense 46,490 ticket sales 95,100 water, gas, and electricity 6,700 Required 1.Prepare an income statement for the month ended September 30, 2010. 2.Prepare a statement of retained earnings for the month ended September 30, 2010. 3.Prepare a balance sheet at September 30, 2010. 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?
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