LCULATOS HILSCREEN Question 6 Here are incomplete financial statements for Sheridan Company. Calculate the missing...
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LCULATOS HILSCREEN Question 6 Here are incomplete financial statements for Sheridan Company. Calculate the missing amounts. SHERIDAN COMPANY Balance Sheet Assets Cash $29,600 Supplies (a) Equipment (net) 64,000 Total assets (b) Liabilities and Stockholders' Equity Liabilities Notes payable $24,000 Stockholders' Equity Common stock 36,000 Retained earnings (c) Total liabilities and stockholders' equity (d) SHERIDAN COMPANY Income Statement $61,000 Revenues Depreciation expense Salaries and wages expense Interest expense 11,500 2,000 $25,000 Net income SHERIDAN COMPANY Retained Earnings Statement Beginning retained earnings (f) Add: Net Income (0) Less: Dividends 6,100 Ending retained earnings $36,400
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