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How do I find the fill in the blanks? (boxes with arrows) At the beginning of the current fiscal year, the balance sheet for Davis
How do I find the fill in the blanks? (boxes with arrows)
At the beginning of the current fiscal year, the balance sheet for Davis Co. showed liabilities of $384,000. During the year, liabilities decreased by $21,600, assets increased by $78,000, and paid-in capital increased from $36,000 to $230,400. Dividends declared and paid during the year were $30,000. At the end of the year, stockholders' equity totaled $514,800 Required: Calculate net income (or loss) for the year. (Negative amounts should be indicated by a minus sign.) Stockholders' Equity AssetsLiabilities+PICRE 384,000 (21.600), Beginning: $36,000 78,000- 194,400| + et loss (30,000) [Dividends $ 362,400| + | 230,400 + ($514,800 total SE) = Statement of Stockholders' Equity (Partial) Retained earnings, beginning Retained earnings, endingStep by Step Solution
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