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Angela Lopez owns and manages a consulting firm called Metrix, which began operations on March 1. On March 31, Metrix shows the following selected accounts and amounts for the month of March. Equipment Salaries expense Consulting revenue Cash Utilities expense Note payable Accounts receivable Common stock Dividends $ 8,500 3,900 16,500 9.800 380 3,300 4,400 15.200 2,900 Office supplies Rental revenue Advertising expende Prepaid Insurance Accounts payable Note receivable Rent expense Unearned revenue $2,400 1,400 580 1.900 4.10 3.400 2.900 400 Required: 1. Prepare a March income statement for the business 2. Prepare a March statement of retained earnings. The Retained Earnings account balance at March 1 was $0. 3. Prepare a March 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2 Required 1 Required 2 Required 3 Prepare a March income statement for the business. METRIX Income Statement 0 Accounts payable Accounts receivable Advertising expense Automobiles Net income Net loss Required 1 Required 2 Required 3 Prepare a March statement of retained earnings. The Retained Earnings account balance at March 1 was $0. METRIX Statement of Retained Earnings 0 0 0 Add: Dividends 0 Add: Investment by owner $ Add: Net income

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