Information for TTL, Inc., is given below. Total assets at the beginning of the year .......... $

Question:

Information for TTL, Inc., is given below.

Total assets at the beginning of the year .......... $ (a)

Total assets at the end of the year ...........730,000

Total liabilities at the beginning of the year .......300,000

Total liabilities at the end of the year ........... (b)

Equity at the beginning of the year ............250,000

Equity at the end of the year ............. (c)

Dividends paid during the year ............ 35,000

Net income for the year ............... (d)

Revenues .....................950,000

Expenses .......................825,000


Required:

Use the relationships in the balance sheet, income statement, and statement of retained earnings to determine the missing values.


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