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ACCOUNTING QUESTION HELP. CALCULATE THE MISSING AMOUNTS FOR THE HIGHIGHTED BOXES. Below are incomplete financial statements for Cyclone, Inc. Required: Calculate the missing amounts. CYCLONE,
ACCOUNTING QUESTION HELP. CALCULATE THE MISSING AMOUNTS FOR THE HIGHIGHTED BOXES.
Below are incomplete financial statements for Cyclone, Inc. Required: Calculate the missing amounts. CYCLONE, INC. Income Statement Year ended Dec. 31, 2021 Revenues Expenses: Salaries s 12,400 Rent 8,400 Advertising 4,400 Net income CYCLONE, INC. Statement of Stockholders' Equity Year ended Dec. 31, 2021 Total Common Retained Stockholders' Stock Earnings Equity $ 13,400 $ 6,400 $ 19,800 Beginning balance Issuances of stock Add: Net income Less: Dividends Ending balance 4,400 4,400 S 15,800 $ 7,400 $ 23,200 CYCLONE, INC. Balance Sheet Dec. 31, 2021 Assets Liabilities S s s 3,400 Cash Supplies Land 1,100 Accounts payable Stockholders' Equity 5,400 Common stock 15,400 Retained earnings Total liabilities and stockholders' equity Building Total assetsStep by Step Solution
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