Here are incomplete financial statements for Riedy, Inc. Instructions Calculate the missingamounts. RIEDY, INC. Balance Sheet Liabilities

Here are incomplete financial statements for Riedy, Inc.

Instructions
Calculate the missingamounts.

Transcribed Image Text:

RIEDY, INC. Balance Sheet Liabilities and Stockholders' Equity Liabilities Assets Cash $7,000 10,000 45,000 62,000 Accounts payable 5,000 Inventory Buildings Stockholders equity Common stock Retained earnings Total assets Total liabilities and stockholders' equity $62,000 Income Statement Revenues Cost of goods sold Salaries and wages expense Net income $85,000 10,000 $ (d) Retained Earnings Statement Beginning retained earnings Add: Net income Less: Dividends $12,000 5,000 $27,000 Ending retained earnings