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Comments This is also an example of balance sheet results after the accounting system has...

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Accounting

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This is also an example of balance sheet results after the accounting system has recorded all of the events. Each balance sheet
must conform to the accounting basic equation, Assets = Liabilities + Shareholders' Equity
While the figures are jumbled in the problem statement, the balance sheet for each year would be organized like this:
Total L and SE XXX= Total Liabilities + Total Shareholders E
Balance Sheets are connected from year to year with Retained Earnings. We usually state that the Balance Sheets "articulate."
Retained Earnings (beginningof year)+ Net Income - Dividends = Retained Earnings (endof year)
{:[T,+135,-12=1,924]
Balance Sheets
Following is selected information from the balance sheet for Touret Inc., financial statements. Solve for the missing amounts for each year.
Because the financial statements are connected from one year to the next by the Retained Earnings, you may need to use the numbers from
the year before or the year after to solve for a number for the target year. Also, this problem includes a common metric, the working capital.
Required
Solve for the missing amounts for each of the five years.
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