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