Assume that Wolf Products Company reported the following summarized data at May 31, 2016. Accounts appear in no particular order; dollar amounts are in millions.

Requirements
1. Solve for Cash.
2. Prepare the trial balance of Wolf Products at May 31, 2016. List the accounts in their proper order. How much was Wolf Products Company's net income or net loss?

Transcribed Image Text:

S 38 25 Stockholders' equity, May 1, 2016$ 6 Revenues Accounts payabl... Other assets.... Other liabilities. 7 Expenses 20 Cash. Stockholders equity does not include the current period net income.