Question: Items from the 2011 income statement, statement of retained earnings, and balance sheet of Electronic Arts, Inc., are listed below in alphabetical order. Solve for
Items from the 2011 income statement, statement of retained earnings, and balance sheet of Electronic Arts, Inc., are listed below in alphabetical order. Solve for the missing amounts, and explain whether the company was profitable.
Electronic Arts, Inc.
Contributed Capital...................................................... $2,430
Dividends........................................................................ 0
Net Income (Loss)..............................................................(a)
Retained Earnings, Beginning of Year..................................... 370
Retained Earnings, End of Year............................................. (b)
Total Assets................................................................. 4,900
Total Expenses................................................................. (c)
Total Liabilities............................................................. 2,400
Total Revenues.............................................................. 3,600
Electronic Arts, Inc.
Contributed Capital...................................................... $2,430
Dividends........................................................................ 0
Net Income (Loss)..............................................................(a)
Retained Earnings, Beginning of Year..................................... 370
Retained Earnings, End of Year............................................. (b)
Total Assets................................................................. 4,900
Total Expenses................................................................. (c)
Total Liabilities............................................................. 2,400
Total Revenues.............................................................. 3,600
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a 300 b 70 c 3900 Electronic Arts was not profitable because its expenses 3900 were greater than its ... View full answer
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