Revenues....................................................................................................................$1,250,XXX Salaries expense ......................................................................................................... 680,000 Administrative expenses............................................................................................ 250,ZZZ Interest expense.......................................................................................................... 45,000 Rent expense .............................................................................................................. 18,000 Total expenses............................................................................................................ (a) Net income ................................................................................................................. (b) Total shareholders' equity, beginning of year............................................................ $811,000 Common shares, beginning of year ........................................................................... (c) Issue of shares............................................................................................................ 250,ZZZ Common shares, end of year...................................................................................... 475,000 Retained earnings, beginning of year......................................................................... (d) Dividends declared..................................................................................................... 58,000 Retained earnings, end of year................................................................................... 785,XXX Total shareholders' equity, end of year...................................................................... (e) Total assets................................................................................................................. (f) Total liabilities........................................................................................................... 1,785,000 Total liabilities and shareholders' equity ................................................................... (g) Instructions Complete the missing data in these financial statements: (a) Total expenses (b) Net income (c) Common shares, beginning of year (d) Retained earnings, beginning of year (e) Total shareholders' equity, end of year (f) Total assets (g) Total liabilities and shareholders' equity