Question
Each of the following independent situations represents amounts shown on the four basic financial statements. Revenues = $24,400; Expenses = $16,700; Net income = _____________blank.
Each of the following independent situations represents amounts shown on the four basic financial statements. Revenues = $24,400; Expenses = $16,700; Net income = _____________blank. Increase in stockholders' equity = $17,000; Issuance of common stock = $11,000; Net income = $10,700; Dividends = _____________blank. Assets = $22,700; Stockholders' equity = $15,000; Liabilities = _____________blank. Total change in cash = $23,400; Net operating cash flows = $31,400; Net investing cash flows = ($14,400); Net financing cash flows = _____________blank. Required: Fill in the formulas and missing blanks using your knowledge of amounts that appear on the financial statements.
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