Here are incomplete financial statements for Oway Corporation. Instructions Calculate the missing amounts. Oway Corporation. Balance Sheet

Here are incomplete financial statements for Oway Corporation. 

Instructions 

Calculate the missing amounts.

Transcribed Image Text:

Oway Corporation. Balance Sheet Liabilities and Stockholders' Equity Assets $ 29,000 (a) Liabilities Notes payable Stockholders' equity Cash Supplies Equipment (net) $22,000 65,000 Common stock $ (b) 38,000 Total assets Retained earnings Total liabilities and (c) $ (d) stockholders' equity Income Statement Revenues $53,000 Depreciation expense Salaries and wages expense Interest expense (e) 10,000 1,000 Net income $25,000 Retained Earnings Statement $ (f) (g) Beginning retained earnings Add: Net income Less: Dividends 6,000 Ending retained earnings $37,000