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Below are incomplete financial statements for Cyclone, Inc. .:.

Below are incomplete financial statements for Cyclone, Inc. .:.

Below are incomplete financial statements for Cyclone, Inc.

Required:
Calculate the missingamounts.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...

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Transcribed Image Text

CYCLONE, INC. CYCLONE, INC. Statement of Stockholders' Equity Common Retained Total Stock Earnings S. Equity Revenues Expenses Salaries Rent Advertising $13,000 7,000 5,000 Beginning balance Issuances of stock Add: Net income Less: Dividends Ending balance $14,000 $7,000 $21,000 5,000 $17,000 $8,000 $25,000 5,000 Net income CYCLONE, INC. Balance Sheet Assets Liabilities Cash Supplies Land Building S 1,100 Accounts payable $4,000 Stockholders Equity 6,000 16,000 mmon stock Retained earnings Total liabilities and stockholders' equity assets

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Financial Accounting

3rd edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

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