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how to calculate the total? A set of financial statements for Rabbit Company follows EEB (Click to view the financial statements.) Requirement Fill in the
how to calculate the total?
A set of financial statements for Rabbit Company follows EEB (Click to view the financial statements.) Requirement Fill in the missing amounts (indicated with question marks) Requirement 1. Fill in the missing amounts. Begin by completing the income statement. Rabbit Company Income Statement For the Year Ended December 31, 2012 650,000 260,000 390,000 45,000 345,000 3,000 119,700 222,300 Administrative expenses. Net income . _ . . . Now fill in the missing amounts on the balance sheet. Rabbit Company Balance Sheet At December 31, 2012 $ 100,000 Accounts payable. $ Cash . Accounts receivable Inventory... - . .. . 14,000 9,700 41,000 973,000 Contributed capital .. 620,000 482,500 Retained earnings. . . $1,126,200Step by Step Solution
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