Question: Requirement 1. Compute the missing amount (?) for each company. (Amounts are in millions.) (Enter a 0 for any zero amounts.) Dean Corp. Beginning Assets.

Requirement 1. Compute the missing amount (?) for each company. (Amounts are in millions.) (Enter a "0" for any zero amounts.)

Dean Corp.

Beginning

Assets. . . . . . . . . .

$84

Liabilities. . . . . . . .

47

Common stock. . . .

3

Retained earnings

Ending

Assets. . . . . . . . . .

Liabilities. . . . . . . .

49

Common stock. . . .

3

Retained earnings

41

Income statement

Revenues. . . . . . . .

$226

Expenses. . . . . . . .

208

Net income. . . . . .

Statement of retained earnings

Beginning RE. . . . .

$34

+ Net income. . . . .

- Dividends. . . . . . .

(11)

= Ending RE. . . . .

$41

Loiselle Co.

$44

14

4

26

$64

25

166

$26

24

(21)

$29

Broom, Inc.

5

6

7

$20

7

$30

$7

8

(6)

$9

Requirement 2. At the end of the year, which company has the:

Highest net income?

Highest percent of net income to revenues?

Loiselle Co.

Dean Corp.

Broom, Inc.

has the highest net income.

Dean Corp.

Loiselle Co.

Broom, Inc.

has the highest percent of net income to revenues.

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