Chapter End Review Problem 1-3 Determine the four missing amounts (A,B,C, and D) using financial statement relationships. Retained earnings \begin{tabular}{|c|c|} \hline Beginning & 686,000 \\ \hline Ending & 815,000 \\ \hline Total assets & \\ \hline Beginning & B \\ \hline Ending & 3,426,000 \\ \hline & \\ \hline Total liabilities & \\ \hline Beginning & C28,000 \\ \hline Ending & C \\ \hline & \\ \hline Bommon shares & D \\ \hline Ending & 300,000 \\ \hline Proceeds from issuing additional common shares & \\ \hline during year \end{tabular} STRATEGIES FOR SUCCESS - Remember the order in which the financial statements are prepared (sce Exhibit 1.23) and determine the missing amounts by following that order. Note that this may be different from the sequence of the letters. - Remember that Revenues - Expenses = Net Income. - Remember that Assets = Liabilities + Shareholders' Equity - Remember that Shareholders' Equity = Common Shares + Retained Earnings