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Calculate the missing amounts. CULLUMBER COMPANY Balance Sheet Assets Cash $29,700 Supplies (a) Equipment (net) 61,500 Total assets $ (b) Liabilities and Stockholders' Equity Liabilities
Calculate the missing amounts. CULLUMBER COMPANY Balance Sheet Assets Cash $29,700 Supplies (a) Equipment (net) 61,500 Total assets $ (b) Liabilities and Stockholders' Equity Liabilities Notes payable Stockholders' Equity Common stock $23,500 38,700 Retained earnings (c) Total liabilities and stockholders' equity $ $ (d) CULLUMBER COMPANY Income Statement Revenues $61,500 Depreciation expense (e) Salaries and wages expense Interest expense Net income 11,100 1,600 $26,700 CULLUMBER COMPANY Retained Earnings Statement Beginning retained earnings $ (f) Add: Net income Less: Dividends Ending retained earnings 5,200 $36,000
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