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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 four different corporations, AL, CO, KS, and MT. Enter the missing amounts. AL co ks MT Beginning of the year: Assets $253,600 $294,200 $ 234,600 $119,200 95,400 Liabilities 152,200 153,000 142,700 End of the year: Assets 314,500 411,900 131,100 294,800 Liabilities 136,900 129,400 95,400 161,700 During the year: Additional issue of capital stock 55,800 47,600 Dividends 69,700 58,800 17,700 -317,900 X 76,500 11,900 -4,700 x 165,700 17,800 83,800 45,600 Revenue 133,100 Expenses 146,600 152,200 Feedback Check My Work Recall that the accounting equation can be rearranged to calculate the missing amounts. Stockholders' equity increases with additional stock issues and also when the retained earnings balance increases through net income and gains. Stockholders' equity decreases when dividends are declared and paid and also when the retained earnings balance decreases through net losses
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