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The summaries of data from the balance sheet, income statement, and retained earnings statement for two corporations, Walco Corporation and Gunther Enterprises, are presented below
The summaries of data from the balance sheet, income statement, and retained earnings statement for two corporations, Walco Corporation and Gunther Enterprises, are presented below for 2017 Determine the missing amounts. Assume all changes in stockholders' equity are due to changes in retained earnings Walco Corporation $117,000 72,000 Gunther Enterprises Beginning of year Total assets $159,000 Total liabilities Total stockholders' equity 71,300 End of year 182,000 Total assets Total liabilities Total stockholders' equity 120,000 59,000 51,900 Changes during year in retained earnings Dividends 4.600 Total revenues 215,000 Total expenses 169,000 80,000
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