Question
Here are incomplete financial statements for Ivanhoe Company. Calculate the missing amounts. IVANHOE COMPANY Balance Sheet Assets Cash $ 14,200 Inventory 17,200 Buildings 37,800 Total
Here are incomplete financial statements for Ivanhoe Company. Calculate the missing amounts.
IVANHOE COMPANY Balance Sheet | ||||||
---|---|---|---|---|---|---|
Assets | ||||||
Cash | $ 14,200 | |||||
Inventory | 17,200 | |||||
Buildings | 37,800 | |||||
Total assets | $69,200 | |||||
Liabilities and Stockholders' Equity | ||||||
Liabilities | ||||||
Accounts payable | $ 5,700 | |||||
Stockholders' Equity | ||||||
Common stock | enter a dollar amount | (a) | ||||
Retained earnings | enter a dollar amount | (b) | ||||
Total liabilities and stockholders' equity | $69,200 |
IVANHOE COMPANY Income Statement | ||||
---|---|---|---|---|
Revenues | $84,900 | |||
Cost of goods sold | enter a dollar amount | (c) | ||
Salaries and wages expense | 10,070 | |||
Net income | $enter a dollar amount | (d) |
IVANHOE COMPANY Retained Earnings Statement | ||||
---|---|---|---|---|
Beginning retained earnings | $19,200 | |||
Add: Net income | enter a dollar amount | (e) | ||
Less: Dividends | 4,950 | |||
Ending retained earnings | $34,200 |
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