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Summarized versions of the Shawsheen Corporation's financial statements are given for two years BE (Click the icon to view the financial statements.) Requirements *** Requirement
Summarized versions of the Shawsheen Corporation's financial statements are given for two years BE (Click the icon to view the financial statements.) Requirements *** Requirement 1. Determine the missing amounts denoted by the letters Calculate the missing amounts. When calculating the answers, you may need to solve for a missing value farther down the statement and work backward (Enter amounts in thousands as provided to you in the problem statement. Enter decreases cash with parentheses or a minus sign.) 2020 2019 Income Statement $ 15 000 Revenues Cost of goods sold 11,030 1,250 1,150 Other expenses 4,100 Earnings before income taxes 3,720 1,302 Income taxes (35% tax rate) Net earnings Statement of Retained Earnings $ 2,660 Beginning balance Net earnings (306) (201) Dividends Ending balance Balance Sheet Next Time Remaining: 00:57:18 Financial statements 2020 2019 Income Statement (In Thousands) Revenues $ k $ 15,000 Cost of goods sold 11,030 a Other expenses 1.250 1,150 Earnings before income taxes 4.100 3,720 1.302 Income taxes (35% tax rate) $m $ b Net earnings Statement of Retained Earnings Beginning balance n $ 2,660 Net earnings O (306) (201) Dividends $ p $d Ending balance Balance Sheet Assets: $ 9 $e Cash
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