Problem $2$

On December $31,2023,$ the accounting records of Sky Corporation contain What is the amount of Cash owned by Sky on December $31,2023$ if in the table the balance of Inventory $5,000$ is missing.? Net income for the year is $125,000$ and dividends paid $-$ $$20,000.$ Prepare the statement of RE$,$ when Retained earnings balance in the table is beginning balance, and the balance sheet statement.

$\backslash$table$[[$Accounts Payable,$$16,000,$Accounts Receivable,$$40,000$