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Question 1 The summaries of data from the balance sheet, income statement, and retained earnings statement for two corporations, Walco Corporation and Gunther Enterprises, are
Question 1 The summaries of data from the balance sheet, income statement, and retained earnings statement for two corporations, Walco Corporation and Gunther Enterprises, are presented below for 2017 Determine the missing amounts. Assume all changes in stockholders' equity are due to changes in retained earnings. Walco poration Gunther Enterprises Beginning of year $116,000 $158,000 Total assets 62,000 Total liabilities 72,400 Total stockholders equity End of year 172,D00 Total assets 126,000 53,000 Total liabilities 54,900 Total stockholders equity Changes during year in retained earnings 4,300 Dividends 217,000 Total revenues 77,000 163,000 Total expenses
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