1. The following report is supplied by Johnson Company: Assets Cash Accounts receivable Notes receivable Land...

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1. The following report is supplied by Johnson Company: Assets Cash Accounts receivable Notes receivable Land Total assets Johnson Company Comparative Balance Sheet As of December 31, 2021 and 2022 Liabilities and Equity Accounts payable Salaries and commissions payable Notes payable Capital stock (7,500 shares outstanding) Retained earnings Total liabilities and equity 2022 $28,000 21,000 10,000 58,000 $117.000 $9,000 11,000 40,000 15,000 ? 42.000 S? 117.000 Required: a. Compute the balance of retained earnings on Dec 31, 2022. (3%) b. Compute the total expenses incurred in 2022. (3%) c. Compute the net income or net loss for 2022. (3%) d. Compute the earnings per share (EPS) for 2022. (3%) 2021 $19,000 14,000 12,000 43,000 $88.000 $8,000 12,000 35,000 15,000 18,000 $88,000 Revenue for the year included service revenue of $81,000 and interest revenue of $3,000, and the company paid dividends of $6,000. Eytes 24.00 1. The following report is supplied by Johnson Company: Assets Cash Accounts receivable Notes receivable Land Total assets Johnson Company Comparative Balance Sheet As of December 31, 2021 and 2022 Liabilities and Equity Accounts payable Salaries and commissions payable Notes payable Capital stock (7,500 shares outstanding) Retained earnings Total liabilities and equity 2022 $28,000 21,000 10,000 58,000 $117.000 $9,000 11,000 40,000 15,000 ? 42.000 S? 117.000 Required: a. Compute the balance of retained earnings on Dec 31, 2022. (3%) b. Compute the total expenses incurred in 2022. (3%) c. Compute the net income or net loss for 2022. (3%) d. Compute the earnings per share (EPS) for 2022. (3%) 2021 $19,000 14,000 12,000 43,000 $88.000 $8,000 12,000 35,000 15,000 18,000 $88,000 Revenue for the year included service revenue of $81,000 and interest revenue of $3,000, and the company paid dividends of $6,000. Eytes 24.00

Answer rating: 100% (QA)

a Retained earnings on Dec 31 2022 Retained earnings on Dec 31 2021 Net inc... View the full answer