Below are incomplete financial statements for Riley. Incorporated. Required: Calculate the missing amounts. RILEY, INCORPORATED Income...

 

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Below are incomplete financial statements for Riley. Incorporated. Required: Calculate the missing amounts. RILEY, INCORPORATED Income Statement Year ended December 31, 2024 S Revenues Expenses Salaries Advertising Utilities Net income () 35,000 517 5,200 3,200 Beginning balance Issuances Add: Net income Less: Dividends Ending balance RILEY, INCORPORATED Statement of Stockholders' Equity Year ended December 31, 2024 Common Stock 5 69 $ 9,200 1,200 Retained Earnings S 10,400 S Total Stockholders' Equity 6,200 S (2,200) 9,200 S 15,400 1,200 (2,200) 19,600 Cash Accounts receivable Supplies Equipment Total assets Assets $ $ RILEY, INCORPORATED Balance Sheet December 31, 2024 3,200 Accounts payable 2,200 8,200 Common stock 9,200 Retained earnings 22,800 Liabilities Stockholders' Equity Total liabilities and stockholders' equity Below are incomplete financial statements for Riley. Incorporated. Required: Calculate the missing amounts. RILEY, INCORPORATED Income Statement Year ended December 31, 2024 S Revenues Expenses Salaries Advertising Utilities Net income () 35,000 517 5,200 3,200 Beginning balance Issuances Add: Net income Less: Dividends Ending balance RILEY, INCORPORATED Statement of Stockholders' Equity Year ended December 31, 2024 Common Stock 5 69 $ 9,200 1,200 Retained Earnings S 10,400 S Total Stockholders' Equity 6,200 S (2,200) 9,200 S 15,400 1,200 (2,200) 19,600 Cash Accounts receivable Supplies Equipment Total assets Assets $ $ RILEY, INCORPORATED Balance Sheet December 31, 2024 3,200 Accounts payable 2,200 8,200 Common stock 9,200 Retained earnings 22,800 Liabilities Stockholders' Equity Total liabilities and stockholders' equity

Answer rating: 100% (QA)

Answer The requirement is to compute the missing values for the given data The same is as follows RI... View the full answer