Effect of Accounting Events on Financial Statements: Pizza

Pizza Express Incorporated began the Year 2 accounting period with $2,500 cash, $1,400 of common stock, and $1,100 of retained earnings. Pizza Express was affected by the following accounting events during Year 2: 1.Purchased $3,600 of supplies on account. 2.Earned and collected $12,300 of cash revenue. 3.Paid $2,700 cash on accounts payable. 4.Adjusted the records to reflect the use of supplies. A physical count indicated that $250 of supplies was still on hand on December 31, Year 2.