https://edugen.wileyplus.com/edugen/Iti/main.uni Q Not syncing Financial Accounting, Seventh Canadian Edition by Kimmel, Weygandt, Kieso, Trenholm, Irvine, and Burnley Help | System Announcements PRINTER VERSION BACK Exercise 1-7 Summaries of selected data from the financial statements of two corporations follow. Both companies have just completed their first year of operations. Determine the missing amounts for [1] to [12]. Note that you may not be able to solve the items in numerical order, Blossom Inc. Pina Inc. Income statement Total revenues $970,000 [7] Total expenses [1] 280,000 Net income 140,000 40,000 Statement of changes in equity Total shareholders' equity, beginning of year Common shares, beginning of year O Issue of shares 100,000 [81 Common shares, end of year [2] 40,000 Retained earnings, beginning of year 0 Net income [3] [9] Dividends declared [4] 10,000 Retained earnings, end of year 96,000 30,000 Total shareholders' equity, end of year [5] [10] Statement of financial position Total assets 1,070,000 (11] Total liabilities 874,000 140,000 Total shareholders' equity [6] [12] LINK TO TEXT 7:47 PM n 1 1 6 0 ) ENG 2021-02-03