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Summaries of selected data from the financial statements of two corporations follow. Both companies have just completed their first year of operations. Determine the missing
Summaries of selected data from the financial statements of two corporations follow. Both companies have just completed their first year of operations. Determine the missing amounts for [1] to [12]. Note that you may not be able to solve the items in numerical order.
I need help finding values [10], [11], and [12].
thankyou
Sandhill Inc. Monty Inc. Statement of income Total revenues $ 980,000 $ $ 294000 [7] Total expenses 833000 [1] 245,000 Net income 147,000 49,000 Statement of changes in equity Total shareholders' equity, beginning of year Common shares, beginning of year 0 Issue of shares 98,000 19600 [8] Common shares, end of year 98000 [2] 19,600 Retained earnings, beginning of year 0 0 Net income 147000 [3] 49000 [9] Dividends declared 49000 [4] 9,800 Retained earnings, end of year 98,000 39,200 Total shareholders' equity, end of year 196000 [5] (10) Statement of financial position Total assets 1,029,000 [11] Total liabilities 833,000 147,000 Total shareholders' equity 196000 [6] [12]Step by Step Solution
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