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Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet Assets Cash $ 14,100 Inventory 17,100 Buildings 37,900 Total
Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts.
DONAVAN, INC. Balance Sheet | ||||||
Assets | ||||||
Cash | $ 14,100 | |||||
Inventory | 17,100 | |||||
Buildings | 37,900 | |||||
Total assets | $69,100 | |||||
Liabilities and Stockholders' Equity | ||||||
Liabilities | ||||||
Accounts payable | $ 5,200 | |||||
Stockholders' Equity | ||||||
Common stock | (a) | |||||
Retained earnings | (b) | |||||
Total liabilities and stockholders' equity | $69,100 |
DONAVAN, INC. Income Statement | ||||
Revenues | $85,800 | |||
Cost of goods sold | (c) | |||
Salaries and wages expense | 10,400 | |||
Net Income | $ | (d) |
DONAVAN, INC. Retained Earnings Statement | ||||
Beginning retained earnings | $19,100 | |||
Add: Net income | (e) | |||
Less: Dividends | 4,710 | |||
Ending retained earnings | $34,100 |
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