Below are incomplete financial statements for Cyclone, Inc. Required: Calculate the missing amounts? CYCLONE, INC. Income Statement

Below are incomplete financial statements for Cyclone, Inc.

Required:
Calculate the missing amounts?

Transcribed Image Text:

CYCLONE, INC. Income Statement CYCLONE, INC. Statement of Stockholders' Equity Common Retained Total Stock Earnings S. Equity Revenues Expenses: Beginning balance $13,000 $6,000 Salaries Rent Advertising $12,000 Issuances of stock 6,000 Add: Net income 4,000 Less: Dividends $19,000 4,000 15000 $7,000 $22,000 4,000 Net income Ending balance CYCLONE, INC. Balance Sheet Assets Liabilities Cash Supplies Land Building S 1,000 Accounts payable S3,000 Stockholders' Equity 5,000 15,000 Common stock Retained earnings Total liabilities and stockholders' equity Total assets