Exercise 3.5 (Static) Relationship between Net Income and Equity (LO3-6, LO3-8) The following information came from a recent balance sheet of The Coca Cola, Company: Required: a. Determine the amount of total liabilities reported in Coca-Cola's balance sheet at the beginning of the year. b. Determine the amount of total owners' equity reported in Coca-Cola's balance sheet at the end of the year. c. Retained earnings was reported in Coca-Cola's year-end balance sheet at $66.6 billion. If retained earnings was $65.6 billion at the beginning of the year, determine net income for the year if a $7.0 billion dividend was declared during the year. Note: For all requirements, enter your answers in billions of dollars rounded to 1 decimal place. Exercise 3.11 (Static) Journalizing, Posting, and Preparing a Trial Balance (LO3-3, LO3-5, LO3-8, LO3-9) Ceorgat Comporation weoporated on September 2, current yeat. The company engagedin the foliowing transactions during its first nonth of operabions: A pontia ist of the account tobes used by the conpary includes the following: - Cach - Notes Papoble - Accounts Receivable. - Accounts Payable - Oflice Supsiles - Caphas Sipok - Land - Client Revenue - Bulding - Solary Expense Reculred: a. Prepare jounal entiles for the above transactions. C. Port each entry to the aporopriate ledger accounts. C. Prepare a tral belance deted September 30 , current yea. Assume accounts whth zero bilances are not included in the trial balance. Complete this question by entering your anowers in the tabs below. Prepare joumal entries for the above transactions. Exercise 3.8 (Static) Preparing Journal Entries for Revenue, Expenses, and Dividends (LO3-4, LO3-6, (OOB-7, LO3-8) Shown as follows are selected transactions of the architectural firm of Munson, Chang, ond Alverez, Incorporated: May it Declared and pald o $32,000 cash dividend. Jube 10 . Fald Dave Jenean, cak, for the bill received on May 29. Required: a. Prepsre joumal entries to record the transactions in the firm's accounting records. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 5 Record the entry for drafting fees recetivable in 30 days from Batnore Construction. triser debits setore ereats b. Identify any of thete transactions that will not result in a change in the company's net income. Note: You may select more than one answer, Single click the box with the questlon mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong anwwer. 2 Apris D Diehing fees earned. 2. May 17 Oederation and Piyment of a cash dividend. 2 Mary 29 Payment due for accounting services performed Q June 4 Coliection of an account receimbile. 9 June 10 Pirment of an sccount poyobile Exercise 3.4 (Static) Preparing a Trial Balance (LO3-9) Use the information in the ledger accounts. Required: Prepare a trial balance for Avenson Insurance Company dated November 3a