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The summaries of data from the balance sheet, income statement, and retained earnings statement for two corporations, Cullumber Corporation and Blossom Enterprises, are presented below
The summaries of data from the balance sheet, income statement, and retained earnings statement for two corporations, Cullumber Corporation and Blossom Enterprises, are presented below for 2022. Determine the missing amounts. Assume all changes in stockholders' equity are due to changes in retained earnings.
Cullumber Corporation | Blossom Enterprises | |||||
---|---|---|---|---|---|---|
Beginning of year | ||||||
Total assets | $120,000 | $155,000 | ||||
Total liabilities | 89,000 | (d) enter a dollar amount | ||||
Total stockholders' equity | (a) enter a dollar amount | 78,000 | ||||
End of year | ||||||
Total assets | (b) enter a dollar amount | 215,000 | ||||
Total liabilities | 128,000 | 60,000 | ||||
Total stockholders' equity | 72,000 | (e) enter a dollar amount | ||||
Changes during year in retained earnings | ||||||
Dividends | (c) enter a dollar amount | 4,900 | ||||
Total revenues | 242,000 | (f) enter a dollar amount | ||||
Total expenses | 151,000 |
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