Here are incomplete financial statements for Cullumber Company. Calculate the missing amounts.
CULLUMBER COMPANY
Balance Sheet
Assets
Cash $ 14,000 Inventory 17,000 Buildings 38,000 Total assets $69,000 Liabilities and Stockholders' Equity Liabilities Accounts payable $ 5,600 Stockholders' Equity Common stock enter a dollar amount
(a) Retained earnings enter a dollar amount
(b) Total liabilities and stockholders' equity $69,000 CULLUMBER COMPANY Income Statement Revenues $85,400 Cost of goods sold enter a dollar amount
(c) Salaries and wages expense 10,270 Net income $enter a dollar amount
(d) CULLUMBER COMPANY Retained Earnings Statement Beginning retained earnings $19,000 Add: Net income enter a dollar amount
(e) Less: Dividends 4,770 Ending retained earnings $34,000