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Determining Missing Amounts Using Interrelations of Financial Statements The following abbreviated financial statements of Company X contain missing values. Required Determine the missing amounts,
Determining Missing Amounts Using Interrelations of Financial Statements The following abbreviated financial statements of Company X contain missing values. Required Determine the missing amounts, a through m, from the financial statements. Note: Include a negative sign (-) as needed. Missing Value Statement of Comprehensive Income for Year Ended December 31 0 a. b. C. Missing Value Changes in Accumulated Other Comprehensive Income from the Statement of Stockholders' Equity Accumulated other comprehensive income, January 1 $7,000 Other comprehensive income Accumulated other comprehensive income, December 31 Net income Other comprehensive income (debit bal.) Comprehensive income. d. Missing Value Statement of Retained Earnings for Year Ended December 31 Retained earnings, January 1 $40,000 Net income e. (500) $27,500 Dividends Retained earnings, December 31 S 0 (8,000) 0 0 Missing Value f. g. h. i. j. k. I. Balance Sheet at December 31 m. Assets Cash Total assets, excluding cash Total assets Liabilities Total liabilities Stockholders' Equity Common stock (no-par) Retained earnings Accumulated other comprehensive income Total stockholders' equity $ $ 0 130,000 $160,000 $81,000 Missing Value Statement of Cash Flows for Year Ended December 31 Net cash flows from operating activities Net cash flows from investing activities Net cash flows from financing activities Change in cash Cash, January 1 Cash, December 31 0 0 0 0 $29,000 (40,000) 0 5,000 0 0
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