Compute the missing amount (?) for each company. (Amounts are in millions.) At the end of the
Question:
Compute the missing amount (?) for each company. (Amounts are in millions.)
At the end of the year, which company had the
■ highest net income?
■ highest percent of net income to revenues?
Transcribed Image Text:
Babble Co. Floralties, Inc. Drake Co. Beginning Assets.. $ 79 $35 Liabilities .. 51 15 5 Common stock.. 5 2 Retained earnings.. 15 6. Ending $ 15 $53 Assets... Liabilities .. 52 27 Common stock.. Retained earnings.. 35 Income statement $ 27 $ ? $227 Revenues. Expenses 218 153 Net income.. Statement of retained earnings Beginning RE. + Net income.... - Dividends declared Ending RE. $ 27 $ 6 $15 10 4 . (1) $ 35 (4) $ 6 (11) $14
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Related Book For
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
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