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Summarized versions of Heartsong Corporation's financial statements for two recent years are as follows. (Click the icon to view the financial statements.) Requirement 1.
Summarized versions of Heartsong Corporation's financial statements for two recent years are as follows. (Click the icon to view the financial statements.) Requirement 1. Complete Heartsong Corporation's financial statements by determining the missing amounts denoted by the letters. If necessary, round numbers up to the nearest whole dollar. (Round the tax calculation to the nearest thousand dollars. Use parentheses or a minus sign when entering a net decrease in cash) 2019 2018 Income Statement (in Thousands) Revenues $ 16,100 Cost of goods sold 11,080 1,280 Other expenses 1,210 Income before income taxes 1,550 2,120 Income taxes (35%) 742 Net income Statement of Retained Earnings Beginning balance Net income Dividends $ 2,740 (88) (50) Ending balance Balance Sheet Assets Cash Property, plant, and equipment 1,537 1,386 11,237 Other assets $ 13,938 Total assets
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