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Here are incomplete financial statements for Pharoah Company. Calculate the missing amounts with the question mark and where it says dollar amount PHAROAH COMPANY Balance

Here are incomplete financial statements for Pharoah Company. Calculate the missing amounts with the question mark and where it says dollar amount

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 earnings

enter 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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