1)

1. Use the relationships in the balance sheet, income statement, and retained earnings statement to determine the missing values.

   Total assets at the beginning of the year

   $145,200

   Total assets at the end of the year

   $

   Total liabilities at the beginning of the year

   92,600

   Total liabilities at the end of the year

   126,900

   Equity at the beginning of the year

   $

   Equity at the end of the year

   104,100

   Dividends paid during the year

   $

   Net income for the year

   77,500

   Revenues

   554,800

   Expenses

   2)

   The following information for Rogers Enterprises is available at December 31, 2019, and includes all of Rogers' financial statement amounts except retained earnings:

   Accounts receivable	$72,920
   Cash	13,240
   Common stock (10,000 shares)	76,100
   Income taxes expense	12,600
   Income taxes payable	4,150
   Interest expense	15,500
   Notes payable (due in 10 years)	25,000
   Prepaid rent (building)	31,500
   Property, plant, and equipment	90,000
   Rent expense	135,000
   Retained earnings	?
   Salaries expense	235,200
   Salaries payable	15,420
   Service revenue	463,000
   Supplies	42,200
   Supplies expense	32,800

   Required:

   Prepare a single-step income statement for the year ending December 31, 2019, for Rogers.

   Rogers Enterprises
   Income Statement
   For the Year Ended December 31, 2019
   Revenues:
   Common stock Retained earnings Salaries expense Service revenue Supplies expense		$
   Expenses:
   Cash Notes payable Salaries expense Salaries payable Service revenue	$
   Accounts receivable Prepaid rent Property, plant, and equipment Rent expense Salaries payable
   Cash Common stock Service revenue Supplies Supplies expense
   Cash Interest expense Retained earnings Salaries payable Service revenue
   Accounts receivable Income taxes expense Income taxes payable Notes payable Salaries payable
   Net income		$

   Feedback

   Prepare a classified balance sheet for the year ending December 31, 2019, for Rogers.

   Rogers Enterprises
   Balance Sheet
   December 31, 2019
   Assets
   Current assets:
   Cash Common stock Income taxes payable Notes payable Supplies expense	$
   Accounts receivable Interest expense Retained earnings Salaries payable Service revenue
   Income taxes expense Property, plant, and equipment Notes payable Supplies Supplies expense
   Income taxes payable Interest expense Prepaid rent Rent expense Retained earnings
   Total current assets		$
   Cash Accounts receivable Income taxes expense Property, plant, and equipment Service revenue
   Total assets		$
   Liabilities
   Current liabilities:
   Accounts receivable Cash Property, plant, and equipment Salaries expense Salaries payable	$
   Cash Common stock Income taxes expense Income taxes payable Supplies
   Total current liabilities		$
   Long-term liabilities:
   Income tax payable Prepaid rent Notes payable Salaries payable Supplies expense
   Total liabilities		$
   Stockholders' Equity
   Stockholders' equity:
   Accounts receivable Cash Common stock Notes payable Prepaid rent	$
   Accounts receivable Income taxes payable Property, plant, and equipment Retained earnings Supplies
   Total stockholders' equity
   Total liabilities and stockholders' equity		$

   0

   789+

   456-

   123*

   0.=/