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

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

Ruby Corp.

Beginning

Assets

$83

Liabilities

49

Common stock

5

Retained earnings

Ending

Assets

Liabilities

50

Common stock

5

Retained earnings

34

Income statement

Revenues

$225

Expenses

209

Net income

Statement of retained earnings

Beginning RE

$29

+ Net income

- Dividends

(11)

= Ending RE

$34

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