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Here are incomplete financial statements for Pharoah Company. Calculate the missing amounts. PHAROAH COMPANY Balance Sheet Assets Cash-$29,000 Supplies?(a) Equipment (net)64,900 Total assets?$(b) Liabilities and

Here are incomplete financial statements for Pharoah Company.

Calculate the missing amounts.

PHAROAH COMPANY

Balance Sheet

Assets

Cash-$29,000

Supplies?(a)

Equipment (net)64,900

Total assets?$(b)

Liabilities and Stockholders' Equity

Liabilities

Notes payable $23,700

Stockholders' Equity

Common stock 37,100

Retained earningsenter a dollar amount ? (c)

Total liabilities and stockholders' equity ? $ (d)

PHAROAH COMPANY

Income Statement

Revenues$56,500

Depreciation expense enter a dollar amount (e)

Salaries and wages expense 12,100

Interest expense 1,000

Net income $24,500

PHAROAH COMPANY

Retained Earnings Statement

Beginning retained earnings$ (f)

Add: Net income enter a dollar amount (g)

Less: Dividends 6,100

Ending retained earnings$38,000

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