Joel June Fabillar

Kyle Christian Zenarosa

Income Statement

For the Month Ended January 31, 2024

Revenues
Service Revenue $36,400
Total Revenues 36,400

Expenses
Supplies Expense $5,200
Wage Expense 4,600
Total Expenses 9,800

Net Income $26,600

Balance Sheet

As of January 31, 2024

Assets
Cash $39,040
Accounts Receivable 2,560
Equipment 15,000
Dividend 3,000
Total Assets $59,600

Liabilities
Accounts Payable $13,000
Total Liabilities 13,000

Shareholders' Equity
Capital Stock 20,000
Retained Earnings 26,600
Total Shareholders' Equity 43,600

Total Liabilities and Shareholders' Equity $59,600

Statement of Cash Flows

 For the Month Ended January 31, 2024
Cash Flows from Operating Activities
Net Income $26,600
Adjustments to reconcile net income to net cash provided by operating activities:
Increase in Accounts Receivable (2,560)
Increase in Accounts Payable 4,000
Net Cash Provided by Operating Activities 28,040

Cash Flows from Investing Activities

Purchase of Equipment (15,000)
Net Cash Used in Investing Activities (15,000)

Cash Flows from Financing Activities

Issuance of Capital Stock 20,000
Payment of Dividends (3,000)
Net Cash Provided by Financing Activities 17,000

Net Increase in Cash 30,040

Cash at Beginning of Period 9,000
Cash at End of Period $39,040