Sonler Corporation's most recent balance sheet appears below: Comparative Balance sheet
Ending Beginning Beginning Balance

Assets:
Cash and cash equivalents 46 38
Accounts receivable 89 82
Inventory 71 68
Property, plant, and equipment 568 480
Less accumulated depreciation 252 216
Total assets 552 452
Liabilities and stockholders' equity:
Accounts payable 62 60
Bonds payable 232 280
Common stock 28 25
Retained earnings 200 87
Total liabilities and stockholders equity 522 452

The net income for the year was $156. Cash dividends were $43. The company did not Issue any bonds or repurchase any of its common
stock during the year. The net cash provided by (used in) financing activities for the year was:

Multiple Choice
$(88)
$3
$(48)
$(43)

During the first month of operations, martinson services, inc., completed the following transactions: jan 2 martinson services received $65,000 cash and issued common stock to the stockholders. 3 purchased supplies, $1,000, and equipment, $12,000, on account. 4 performed services for a customer and received cash, $5,500. 7 paid cash to acquire land, $39,000. 11 performed services for a customer and billed the customer, $4,100. martinson expects to collect within one month 16 paid for the equipment purchased january 3 on account. 17 paid for newspaper advertising, $600. 18 received partial payment from customer on account, $2,000. 22 paid the water and electricity bills, $430. 29 received $2,600 cash for servicing the heating unit of a customer. 31 paid employee salary, $2,900. 31 declared and paid dividends of $1,800. requirements 1. record each transaction in the journal. key each transaction by date. explanations are not required. 2. post the transactions to the t-accounts, using transaction dates as posting references. label the ending balance of each account bal, as shown in the chapter. 3. prepare the trial balance of martinson services, inc., at january 31 of the current year. 4. mark martinson, the manager, asks you how much in total resources the business has to work with, how much it owes, and whether january was profitable (and by how much)?