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Analyze financial statements items (LO 6, 7) (b) E1-11 Two items are omitted from each of the following summaries of statement of finan- cial position and income statement data for two companies for the year 2014, Steven Craig and Georgia Enterprises. Steven Georgia Craig Enterprises Beginning of year: Total assets 97,000 129,000 Total liabilities 85,000 (c) Total equity 75,000 End of year: Total assets 160,000 180,000 Total liabilities 120,000 50,000 Total equity 40,000 130,000 Changes during year in equity: Additional investment 25,000 Dividends 24,000 (d) Total revenues 215,000 100,000 Total expenses 175,000 55,000 Instructions Determine the missing amounts. E1-12 The following information relates to Karen Weigel Co. for the year 2014. Retained earnings, January 1, 2014 $48,000 Advertising expense $ 1,800 Dividends during 2014 5,000 Rent expense 10,400 Service revenue 62,500 Utilities expense 3,100 Salaries and wages expense 28,000 Instructions After analyzing the data, prepare an income statement and a retained earnings statement for the year ending December 31, 2014. Prepare income statement and retained earnings statement (LO 8)