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 totaltotal total total Netincome Stockholder’s Name Revenue Assets Expensses Liabilites ( Loss ) Equity Randolph $600,000 $450,000 $350,000 $130.000Newman $105,000 $80,000 $10,000 $75,000Wiseman $190,000 $70,000 $30,000 $100,000Martin $180,000 $ 215,000 $115,000 $75,000van tassel $55,000 $75,000 $19,000 $79,000Solution :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? Solution:
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