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P1-5A Financial statement information about four different companies is as follows. Determine financial state- ment...

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Accounting

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P1-5A Financial statement information about four different companies is as follows. Determine financial state- ment amounts and prepare Crosby Stills Nash Young retained earnings statement Company Company Company Company (LO 7, 8) January 1, 2014 Assets $ 75,000 $110,000 $150,000 Liabilities 50,000 (d) $ 75,000 6) Equity 60,000 45,000 100,000 December 31, 2014 Assets (b) 137,000 200,000 (k) Liabilities 55,000 75,000 80,000 Equity 40,000 130,000 140,000 Equity changes in year Additional investment 15,000 10,000 15,000 Dividends 10,000 ( 14,000 10,000 350,000 420,000 (i) Total revenues 500,000 330,000 Total expenses 385,000 342.000 Instructions (a) Determine the missing amounts. (Hint: For example, to solve for (a). Assets - Liabils- ties Equity = $25,000.) (b) Prepare the retained earnings statement for Stills Company. Assume beginning retained earnings was $20,000. Write a memorandum explaining the sequence for preparing financial state ments and the interrelationship of the retained earnings statement to the income statement and statement of financial position

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