Exercise 7-1 1. The total assets are: $500,015.61 2. The total capital is: $318,987.48 3. Indicate the amount of net income or (net loss) for the month of March: (3,152.55) 4. The current month’s gross profit is: $64,719.54 5. The current month’s total expenses are: $67,872.09 The total assets are what the company owns during an accounting period and helps creditors and investors determine the financial health of the company. The capital shows investors how much common stock there is and how much capital is paid and how much the company holds back in retained earnings. The information f ...
Purchase document to see full attachment