Question
Requirement 1. Compute the missing amount (?) for each company. (Amounts are in millions.) (Enter a 0 for any zero amounts.) Dean Corp. Beginning Assets.
Requirement 1. Compute the missing amount (?) for each company. (Amounts are in millions.) (Enter a "0" for any zero amounts.)
| Dean Corp. |
Beginning |
|
Assets. . . . . . . . . . | $84 |
Liabilities. . . . . . . . | 47 |
Common stock. . . . | 3 |
Retained earnings |
|
| |
Ending |
|
Assets. . . . . . . . . . |
|
Liabilities. . . . . . . . | 49 |
Common stock. . . . | 3 |
Retained earnings | 41 |
Income statement | |
Revenues. . . . . . . . | $226 |
Expenses. . . . . . . . | 208 |
Net income. . . . . . |
|
Statement of retained earnings | |
Beginning RE. . . . . | $34 |
+ Net income. . . . . |
|
- Dividends. . . . . . . | (11) |
= Ending RE. . . . . | $41 |
Loiselle Co. |
|
$44 |
14 |
4 |
26 |
|
|
$64 |
25 |
|
|
|
|
166 |
|
|
$26 |
24 |
(21) |
$29 |
Broom, Inc. |
|
|
5 |
6 |
7 |
|
|
$20 |
|
7 |
|
|
$30 |
|
|
|
$7 |
8 |
(6) |
$9 |
Requirement 2. At the end of the year, which company has the:
Highest net income?
Highest percent of net income to revenues?
Loiselle Co.
Dean Corp.
Broom, Inc.
has the highest net income.
Dean Corp.
Loiselle Co.
Broom, Inc.
has the highest percent of net income to revenues.
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