Here are incomplete fi nancial statements for Donavan, Inc. (LO 3)

Assets Cash $ 7,000 Inventory 10,000 Buildings 45,000 Total assets $62,000 DONAVAN, INC.
Balance Sheet Liabilities and Stockholders’ Equity Liabilities Accounts payable $ 5,000 Stockholders’ equity Common stock (a)
Retained earnings (b)
Total liabilities and stockholders’ equity $62,000 Income Statement Revenues $85,000 Cost of goods sold (c)
Salaries and wages expense 10,000 Net income $ (d)
Retained Earnings Statement Beginning retained earnings $12,000 Add: Net income (e)
Less: Dividends 5,000 Ending retained earnings $27,000 Instructions Calculate the missing amounts.