The following data is for Bella Corporation:

Cash
Accounts Receivable
Allowance for Doubtful Accounts
Inventory
Equipment
Accumulated Depreciation
Land
Security Deposit
Accounts Payable
Wages Payable
Note Payable
Common Stock ($1 each)
Retained Earnings
Sales
Cost of Goods Sold
Wage Expense
Rent Expense
Office Expenses
Depreciation Expense
Bad Debt Expense
Interest Expense
Income Tax Expense

Balance
12/31/07

Balance
12/31/08

15,000
40,000
5,000
50,000
200,000
20,000

45,000
65,000
10,000
70,000
250,000
30,000
60,000
10,000
64,000
6,000
80,000
110,000
200,000
1,000,000
500,000
200,000
36,000
26,000
10,000
10,000
8,000
60,000

40,000
10,000
100,000
50,000
80,000

The land was acquired on September 1, 2008 by exchanging 30,000 shares of common stock worth
$30,000 and cash for the balance of the purchase price. The additional common stock (other than
that issued for the purchase of the land) was sold on April 30, 2008 for $1 per share. All equipment
purchased during the year was purchased for cash. The retained earnings balance for both years is
after all closing entries have been made. The market price per share at December 31, 2008 was
$25. The Note Payable requires payments of $20,000 principal plus interest at 10% on December
31st of each year.

The following data is for Mollys Marvelous Marbles, Inc. (MMM, Inc.):
Balance
12/31/06
Cash
Accounts Receivable
Allowance for Doubtful Accounts
Inventory
Prepaid Rent
Equipment
Accumulated Depreciation
Land
Security Deposit
Accounts Payable
Wages Payable
Rent Payable
Taxes Payable
Note Payable
Common Stock ($1 each)
Retained Earnings
Sales
Cost of Goods Sold
Wage Expense
Rent Expense
Office Expenses
Depreciation Expense
Bad Debt Expense
Interest Expense
Income Tax Expense

35,000
45,000
5,000
50,000
5,000
240,000
40,000
50,000
10,000
10,000
130,000
60,000
70,000

Balance
12/31/07
99,000
80,000
10,000
90,000
320,000
60,000
20,000
10,000
68,000
6,000
5,000
20,000
120,000
100,000
230,000
1,200,000
600,000
150,000
60,000
7,000
20,000
10,000
13,000
102,000

A piece of equipment was acquired on April 1, 2007 by exchanging 20,000 shares of common stock worth $20,000. The additional
common stock (other than that issued for the purchase of the equipment was sold on July 1, 2006 for $1 per share. All other
equipment purchased during the year was purchased for cash. The retained earnings balance for both years is after all closing entries
have been made. The market price per share at December 31, 2006 was $100. The Note Payable requires payments of $10,000
principal plus interest at 10% on December 31st of each year.

The following data is for Scooters Catnip, Inc.

Balance
12/31/06
Cash
Accounts Receivable
Allowance for Doubtful Accounts
Inventory
Prepaid Rent
Equipment
Accumulated Depreciation
Land
Security Deposit
Accounts Payable
Wages Payable
Interest Payable
Taxes Payable
Note Payable
Common Stock ($1 each)
Retained Earnings
Sales
Cost of Goods Sold
Wage Expense
Rent Expense
Office Expenses
Depreciation Expense
Bad Debt Expense
Interest Expense

45,000
35,000
5,000
150,000
5,000
240,000
40,000
90,000
10,000
3,500
10,000
130,000
60,000
126,500

Balance
12/31/07
49,500
60,000
10,000
90,000
320,000
60,000
120,000
10,000
68,000
6,000
6,500
20,000
120,000
100,000
259,000
1,000,000
400,000
150,000
60,000
27,000
20,000
10,000
13,000

A piece of equipment was acquired on June 30, 2007 by exchanging 20,000 shares of common stock worth $20,000. The additional
common stock (other than that issued for the purchase of the equipment was sold on August 1, 2006 for $1 per share. All other
equipment purchased during the year was purchased for cash. The retained earnings balance for both years is after all closing entries
have been made. The market price per share at December 31, 2006 was $100. The Note Payable requires payments of $10,000
principal plus interest at 10%. The tax rate is 30%.