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P1-64B. Learning objectives 3, 4: Apply the accounting equation, evaluate business operations Compute the missing amount for each company amounts in millions. Loomis Co Bryant
P1-64B. Learning objectives 3, 4: Apply the accounting equation, evaluate business operations Compute the missing amount for each company amounts in millions. Loomis Co Bryant Corp Pearl Co. Beginning $42 82 Assets Liabilities 44 20 10 Common stock Retained earnings 20 Ending $62. 19 Assets Liabilities 46 33 Common stock Retained earnings 37 Income statement $223 26 Revenues 216 160 Expenses Net income Statement of retained earnings $20 35 4 Beginning RE Net income 10 Dividends declared (5) (16) (2) Ending RE 37 $14 3
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