(L) 10 Deel III P1-5B Financial statement information about four different companies is shown on the next page. ment amounts and prepa retained earnings statem Instructions (a) Determine the missing amounts. (Hint: For example, to solve for (a), Assets - Liabili- (L07,8) ties - Equity = $28,000.) (b) Prepare the retained earnings statement for John Company. Assume beginning retained earnings was $0. (c) TE Write a memorandum explaining the sequence for preparing financial state- ments and the interrelationship of the retained earnings statement to the income statement and statement of financial position. laod (L) 10 Deel III P1-5B Financial statement information about four different companies is shown on the next page. ment amounts and prepa retained earnings statem Instructions (a) Determine the missing amounts. (Hint: For example, to solve for (a), Assets - Liabili- (L07,8) ties - Equity = $28,000.) (b) Prepare the retained earnings statement for John Company. Assume beginning retained earnings was $0. (c) TE Write a memorandum explaining the sequence for preparing financial state- ments and the interrelationship of the retained earnings statement to the income statement and statement of financial position. laod