Exercise 1-9 x Your answer is incorrect. Try again. Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet Assets Cash $ 12,600 Inventory 15,600 Buildings 39,400 Total assets $67,600 Liabilities and Stockholders' Equity Liabilities Accounts payable $ 5,700 Stockholders' Equity X Common stock 34,300 Retained earnings 33,300 Total liabilities and stockholders' equity $67,600 DONAVAN, INC. Income Statement DONAVAN, INC. Income Statement $85,000 Revenues Cost of goods sold 55100 Salaries and wages expense 10,380 Net Income 19,520 DONAVAN, INC. Retained Earnings Statement Beginning retained earnings $ 17,600 Add: Net income 19,250 (e) Less: Dividends 4,950 Ending retained earnings $32,600