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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
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 | $ 11,600 Rent 5,600 Advertising 3,600 Net income CYCLONE, INC. Statement of Stockholders' Equity Year ended Dec. 31, 2021 Common Retained Earnings Total Stockholders' Equity $ 18,200 $ 12,600 $ 5,600 Beginning balance Issuances of stock Add: Net income Less: Dividends Ending balance 3,600 3,600 $ 14,200 $ 6,600 $ 20,800Step by Step Solution
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