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The financial statements of Western Employment Services Inc. reported the following accounts (adapted, with dollar amounts in thousands): Common shares: Total revenues $1,430 700 shares
The financial statements of Western Employment Services Inc. reported the following accounts (adapted, with dollar amounts in thousands): Common shares: Total revenues $1,430 700 shares issued $700 Accounts payable.. 430 Long-term debt. ......... 34 Retained earnings 690 Other current liabilities .... 2,500 Total expenses . 890 Prepare the shareholders' equity section of Western's balance sheet. Net income has already been closed to Retained Earnings. Shareholders' equity Shareholders' equity:
Shareholders' equity Accounts payable Common shares, 700 shares issued Retained earnings Total shareholders' equity: The financial statements of Western Employment Services Inc. reported the following accounts (adapted, with dollar amounts in thousands): \begin{tabular}{|c|c|c|c|} \hline Common shares: & & Total revenues & $1,430 \\ \hline 700 shares issued & $700 & Accounts payable. . & 430 \\ \hline \multirow[t]{3}{*}{ Long-term debt. . . . . . . } & 34 & Retained earnings & 690 \\ \hline & & Other current liabilities .... & 2,500 \\ \hline & & Total expenses & 890 \\ \hline \end{tabular} Prepare the shareholders' equity section of Western's balance sheet. Net income has already been closed to Retained Earnings. \begin{tabular}{l} Shareholders' equity \\ \hline Shareholders' equity: \end{tabular} NextStep by Step Solution
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