Exercise 1-13 (Algo) Compute missing amounts from financial statements (LO1-3) Each of the following independent situations represents amounts shown on the four basic financial statements. 1. Revenues = $23,000; Expenses = $16,000; Net income = 2. Increase in stockholders' equity = $15,000; Issuance of common stock = $12,000; Net income = $10,000; Dividends = 3. Assets $21,900; Stockholders' equity = $16,000; Liabilities = 4. Total change in cash = $22,000; Net operating cash flows = $30,000; Net investing cash flows = ($13,000); Net financing cash flows Required: Fill in the formulas and missing blanks using your knowledge of amounts that appear on the financial statements. 1. 2. 3.

Exercise 1-13 (Algo) Compute missing amounts from financial statements (LO1-3) Each of the following independent situations represents amounts shown on the four basic financial statements. 1. Revenues =$23,000; Expenses =$16,000; Net income = 2. Increase in stockholders' equity =$15,000; issuance of common stock =$12,000; Net income =$10,000; Dividends = 3. Assets =$21,900; Stockholders' equity =$16,000; Llabilities = 4. Total change in cash =$22,000; Net operating cash flows =$30,000; Net investing cash flows =($13,000); Net financing cash flows Required: Fill in the formulas and missing blanks using your knowledge of amounts that appear on the financial statements