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Using the following table and the equations underlying each of the four basic financial statements show: a. that the balance sheet is in balance. b.

Using the following table and the equations underlying each of the four basic financial statements show:

a. that the balance sheet is in balance.

b. that net income is properly calculated.

c. what caused the change in retained earnings.

d. what caused the change in the cash account.

Reporting Amounts on the Four Basic Financial Statements:

Assets - $16,200.00

Liabilities - $13,750.00

Stockholders Equity - $2,450.00

Revenue - $10,500.00

Expenses - $9,200.00

Net Income - $1,300.00

Dividends - $500.00

Beginning Retained Earnings - $3,500.00

Ending Retaining Earnings - $4,300.00

Cash Flows from Operating Activities - $1,600.00

Cash Flows from Investing Activities - $(1,000)

Cash Flows from Financing Activities - $(900.00)

Beginning Cash - $1,00.00

Ending Cash - $700.00

a. balance sheet

Balance Sheet

Assets Total Liabilities Total

Stockholders' Equity

Total Assets $__ Total L+SE $__

b. Net income is properly calculated.

Revenues Total

Less Expenses

Net Income $ _____

c. What caused change in the Retained Earnings Account

Total

Beginning Retained Earnings

Net Income (add)

Dividends (decuct) $___________

d. What caused changes in the Cash Account

Cash Flows from Operating Activities

Cash Flows from Investing Activities

Cash Flows from Financing Activities

Beginning Cash

Ending Cash $________________

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