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Missing Amounts from Balance Sheet and Income Statement Data One item is omitted in each of the following summaries of balance sheet and income statement

Missing Amounts from Balance Sheet and Income Statement Data

One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different corporations:

Determine the missing amounts.

Hint: First determine the amount of increase or decrease in stockholders' equity during the year.

Freeman Heyward Jones Ramirez
Beginning of the year:
Assets $900,000 $490,000 $115,000 ________
Liabilities 360,000 260,000 81,000 $120,000
End of the year:
Assets 1,260,000 675,000 100,000 270,000
Liabilities 330,000 220,000 80,000 136,000
During the year:
Additional common stock issued _________ 150,000 10,000 55,000
Dividends 75,000 32,000 ________ 39,000
Revenue 570,000 _________ 115,000 115,000
Expenses 240,000 128,000 122,500 128,000

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