Question: E1-2 (Algo) Reporting Amounts on the Four Basic Financial Statements [LO 1-2] Required: Using the following table and the equations underlying each of the four

E1-2 (Algo) Reporting Amounts on the Four Basic Financial Statements [LO 1-2] Required: Using the following table and the equations underlying each of the four basic financial statements, show (a) that the balance sheet is in balance, (b) that net income is properly calculated, (c) what caused changes in the retained earnings account, and (d) what caused changes in the cash account. (Cash outflows should be indicated with a minus sign.) Assets Liabilities Stockholders' Equity Revenue Expenses $ 80,700 19,100 61,600 33,300 19,550 13,750 Dividends 4,650 Beginning Retained Earnings 21,700 Ending Retained Earnings 30,800 Cash Flows from Operating Activities 16,900 (8,400) Net Income Cash Flows from Investing Activities Cash Flows from Financing Activities Beginning Cash Ending Cash a. b. C. d. + (5,900) 4,400 7,000 +

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