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Complete financial statements The following are incomplete financial statements for Mackabee Inc. Calculate the missing amounts. Balance Sheet Assets Cash $ 6,000.00 Inventory $ 20,000.00

Complete financial statements

The following are incomplete financial statements for Mackabee Inc.

Calculate the missing amounts.

Balance Sheet
Assets
Cash $ 6,000.00
Inventory $ 20,000.00
Building (A)
Total Assets $ 64,000.00
Liabilities
Accounts payable $ 7,000.00
Equity
Contributed capital (B)
Retained earnings ('C)
Total liabilities & equities $ 64,000.00
Income Statement
Service revenue $ 120,000.00
Salaries expense $ 70,000.00
Adminstrative expense $ 30,000.00
Net income (D)
Statement of Retained Earnings
Beginning retained earnings $ 20,000.00
Net Income ('E)
Dividends (F)
Ending retained earnings $ 40,000.00

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