Question
Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet Assets Cash $ 14,900 Inventory 17,900 Buildings 37,100 Total
Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts.
DONAVAN, INC. Balance Sheet
Assets
Cash $ 14,900
Inventory 17,900
Buildings 37,100
Total assets $69,900
Liabilities and Stockholders' Equity
Liabilities
Accounts payable $ 6,000
Stockholders' Equity
Common stock (a)
Retained earnings (b)
Total liabilities and stockholders' equity $69,900
DONAVAN, INC. Income Statement
Revenues $84,200
Cost of goods sold (c)
Salaries and wages expense 10,260
Net Income $ (d)
DONAVAN, INC. Retained Earnings Statement
Beginning retained earnings $19,900
Add: Net income (e)
Less: Dividends 4,060
Ending retained earnings $34,900
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