Having trouble with homework assignment

As for problem #2 there are no numbers missing, but you do have to work with theFinancials Statements that are linked within and across time - they articulate. The balance sheet and income statement are linked via retained earnings.

MGMT E-2600 ! Weekly Assignment #1! Due: Tuesday, September 15th by 11:59 EST! ! ! #1! Topic: Preparing a Balance Sheet and Income Statement from a List of Accounts (more challenging - company reports net loss and accumulated deficit) ! Use the accounts below for Delphi Corporation for December 31, 2013 to prepare an income statement and a balance sheet. ($ millions) Contributed capital Cost of sales 13,567 Cash 1,393 Long-term liabilities 3,719 Accounts receivable 2,662 Other current assets 604 Other long-term assets 2,079 Other current liabilities 1,299 Other operating expenses 1,212 Other nonoperating expenses 161 Inventory 1,093 Accounts payable 2,595 Property, net 3,216 Retained earnings 1,209 Sales 16,463 Tax expense 256 Equity income, net of tax ! ! ! ! ! ! ! ! ! ! ! ! ! ! $1,702 34 Other equity 523 ! #2 Topic: Preparation of Financial Statements and Income Statement / Balance Sheet Articulation (more challenging - requires preparation of two financial statements) ! ! Super Style Clothing begins operations in November. During the month the company receives $36,000 from a shareholder for common stock and gets a $4,000 loan from a bank. The company buys $32,000 of inventory for cash and sells half of the inventory for $28,000 on credit. The company had no other transactions in November. Fill in the missing amounts below. Income Statement For the Month of November Sales Cost of sales ! ! Net income Balance Sheet At the End of November Cash Accounts receivable Inventory Total assets Accounts payable Bank loan Total liabilities Contributed capital Retained earnings Total equity ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! Total liabilities and equity ! #3 Topic: Articulation of Retained Earnings ! ! Following is information for Goodyear Tire & Rubber Company for three recent years. Reconcile the retained earnings account for the three-year period. (in millions) Retained earnings, December 31, 2010 866 Net income, 2013 629 Net income, 20112 212 Net income, 2011 343 Dividends, 2013 Dividends, 2012 ! ! ! 41 29 Dividends, 2011 22