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Question 6 Here are incomplete financial statements for Cullumber Company. Calculate the missing amounts. CULLUMBER COMPANY Balance Sheet Assets Cash 528,300 a (b) Supplies Equipment
Question 6 Here are incomplete financial statements for Cullumber Company. Calculate the missing amounts. CULLUMBER COMPANY Balance Sheet Assets Cash 528,300 a (b) Supplies Equipment (net) 64,400 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable $22,800 Stockholders' Equity Common stock 36,400 Retained earnings c) Total liabilities and stockholders' equity $ (d) CULLUMBER COMPANY Income Statement $53,500 Revenues Depreciation expense Salaries and wages expense Interest expense 12,400 1,000 Net income $27,000 CULLUMBER COMPANY Retained Earnings Statement Beginning retained earnings $ (1) 9) Add: Net income Less: Dividends Ending retained earnings 5,100 $37,200
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