Review Figure 2€“12 and complete the blanks below to show the relationships among the four financial statements for Nimmo Brothers Corporation:

Figure 2-12

Transcribed Image Text:

Balance Sheet (12/31/2016) Statement of Cash Flows Balance Sheet (12/31/2017) (year ending 12/31/2017) $ 420 $ 275 (200) Cash Cash-Operating Cash–Investing Cash Other current assets Other current assets 1,300 1,550 Long-term investments Total assets Long-term investments 330 Cash-Financing 1,600 1,400 Total assets A in cash $3,120 Cash-12/31/16 ? Cash-12/31/17 Current liabilities $ 620 Income Statement Current liabilities $ 995 (year ending 12/31/2017) Long-term liabilities Common stock Retained earnings Long-term liabilities 1,200 1,000 $4,200 1,000 Revenue Common stock 1,200 Retained earnings Expenses 500 4,050 ? Total Total Net income $3,120 Statement of Shareholders' Equity (year ending 12/31/2017) Common Retained Stock Earnings 12/31/16 $1,000 $500 Net income Dividends (70) Stock issuance 200 ? 12/31/17 ?