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The summaries of data from the balance sheet, income statement, and retained eamings statement for two corporations, Walco Corporation and Gunther Enterprises, are presented below
The summaries of data from the balance sheet, income statement, and retained eamings 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 $111,000 65,000 Gunther Enterprises Beginning of year $144,000 Total assets Total liabilities Total stockholders' equity 74,500 End of year 189,000 Total assets Total liabilities Total stockholders equity 110,000 57,000 51,000 Changes during year in retained earnings Dividends 4,200 Total revenues 219,000 Total expenses 160,000 76,000
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