Question: For each company, find in the missing amounts that correspond with a letter. At the end of the year, which company has the highest net

For each company, find in the missing amounts that correspond with a letter.
At the end of the year, which company has the highest net income?
Which company has the highest percentage of net income to revenue?
Hint: A statement of retained earnings will help you with your calculations.
A table comparing three companies: Apple, Bingo, and Dexter. The table is separated into three sections: Beginning, Ending, and Income Statement. Under Beginning, labelled Assets, Apple has $78, Bingo has $30, and Dexter has the letter F. Labelled Liabilities, Apple has 47, Bingo had 19, and $1 for Dexter. For Common shares, Apple has 6, Bingo has 1, and Dexter has 3. For Retained earnings,Apple has the letter A, Bingo has 12 and Dexter has 4. Under Ending,Assets has the letter B for Apple, $48 for Bingo, and $12 for Dexter. Liabilities, has $48 for Apple, 30 for Dexter, and the letter G for Dexter. Common Shares had 6 for Apple, 1 for Bingo, and 3 for Dexter. Retained earnings, has 29 for Apple, the letter D for Bingo, and 4 for Dexter. Dividends, has 3 for Apple, 2 for Bingo, and 0 for Dexter. Under Income Statement,Revenues has $218 for Apple, the letter E for Bingo, and $20 for Dexter. Expenses, has 211 for Apple, $144 for Bingo, and 19 for Dexter. Net income, has the letter C for Apple, 11 for Bingo, and 1 for Dexter.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!