The records of Felix Company show the following at December 31, 2014:

Requirements
1. Compute the missing amount for Felix Company. You will need to determine Retained Earnings, December 31, 2014, and total stockholders’ equity.
2. Did Felix earn a net income or suffer a net loss for the year? Compute theamount.

Transcribed Image Text:

Beginning: Assets uabilities Ending: Assets Liablities Equity: Common Stock Dividends Revenues Expenses Retained Earnings, Jan. 1, 2014 45,000 29,000 s 10,000 19,000 242,000 5 55,000 38,000 6,000