Sparwood Ltd. began operations in 2015. Its summarized financial statements are presented below. Fill in the shaded areas to complete the financial statements. Begin your work with 2015 and move forward fromthere.

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2017 2016 S95,000 92,000 2015 $70,000 Revenues Expenses Net income Retained earnings at the beginning of the year Dividends declared during the year Retained earnings at the end of the year Common shares at the end of the year Liabilities at the end of the year Assets at the end of the vear 105,500 (3,500) 20,000 6,500 7,000 10,000 35,000 37,000 23,000 15,000 53,000 65,000