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In each of the two sets of organization financial statement information, two items have been omitted. Replace the question marks with the missing amounts. Use

In each of the two sets of organization financial statement information, two items have been omitted. Replace the question marks with the missing amounts. Use the area below the table to show any calculations used to arrive at the final answer for each missing amount.

Smith Industries ($)

Jones Chips, Inc. ($)

Beginning of year:

Total assets

110,000

129,000

Total liabilities

85,000

129,000-80,000= 49,000

Total equities

110,000-85,000=25,000

80,000

End of year:

Total assets

160,000

180,000

Total liabilities

120,000

50,000

Total equities

40,000

130,000

Changes during the year in equities:

Additional owner investment

Stockholder equity 25,000-40,000-(

25,000

Owner's withdrawals

29,000

?

Total revenues

215,000

100,000

Total expenses

175,000

60,000

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