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Here are incomplete financial statements for Sandhill Co.. Calculate the missing amounts. SANDHILL CO. Balance Sheet Assets Cash $ 14,700 Inventory 17,700 Buildings 37,300 Total
Here are incomplete financial statements for Sandhill Co.. Calculate the missing amounts. SANDHILL CO. Balance Sheet Assets Cash $ 14,700 Inventory 17,700 Buildings 37,300 Total assets $69,700 Liabilities and Stockholders' Equity Liabilities Accounts payable $ 6,000 Stockholders' Equity Common stock 29,000 (a) Retained earnings 34,700 (6) Total liabilities and stockholders' equity $69,700 SANDHILL CO. Income Statement Revenues $84,900 x Cost of goods sold c) SANDHILL CO. Income Statement Revenues $84,900 X Cost of goods sold (c) Salaries and wages expense 10,130 Net income (d) SANDHILL CO. Retained Earnings Statement Beginning retained earnings $19,700 Add: Net income (e) Less: Dividends 4,860 Ending retained earnings $34,700
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