Question: Required: Using the following table and the equations underlying each of the four basic financial statements, show (a) that the balance sheet is in

Required: Using the following table and the equations underlying each of the

Required: Using the following table and the equations underlying each of the four basic financial statements, show (a) that the balance sheet is in balance, (b) that net income is properly calculated, (c) what caused changes in the retained earnings account, and (d) what caused changes in the cash account. (Cash outflows should be indicated with a minus sign.) Assets Liabilities Stockholders' Equity Revenue Expenses $ 79,900 18,700 61,200 32,500 19,150 Net Income 13,350 Dividends 5,100 Beginning Retained Earnings 20,900 Ending Retained Earnings 29,150 Cash Flows from Operating Activities 16,100 Cash Flows from Investing Activities (7,600) Cash Flows from Financing Activities Beginning Cash (5,500) 3,600 Ending Cash 6,600 a. b. C. d. = + + + +

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