Question: Current Attempt in Progress Incomplete financial statements for Oriole, Inc. follow. (a) Calculate the missing amounts for [1] to (13) Oriole, INC. Statement of Income
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Current Attempt in Progress Incomplete financial statements for Oriole, Inc. follow. (a) Calculate the missing amounts for [1] to (13) Oriole, INC. Statement of Income Year Ended November 30, 2021 Service revenue $ 187,500 Operating expenses $ [1] Income before income tax 49,500 Income tax expense 9.900 Net income $ [2] Orlole, INC. Statement of Changes in Equity Year Ended November 30, 2021 Retained Earnings Total Equity Common Shares $0 Balance, December 1, 2020 $0 $0 $ [5] 275,000 Issued common shares $ Net income [3] $ [6] Dividends declared 16,500 - 16,500 $ 275,000 14) $ Balance, November 30, 2021 171 Oriole, INC. Statement of Financial Position November 30, 2021 Liabilities and Shareholders' Equity $ 24,200 Liabilities Assets Cash Accounts receivable 37.400 Accounts payable (10) Land s (8) 660,000 Buildings 429,000 Bank loan payable Total liabilities Shareholders' equity 762 300 Equipment 239,800 Total assets 191 Common shares $ (11) Retained earnings $ (12) Total shareholders' equity [13] Total liabilities and shareholders equity $ 1.060,400
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