The summaries of data from the balance sheet, income statement, and retained earnings statement for two corporations, Walco Corporation and Gunther Enterprises, are presented below for 2022. Determine the missing amounts. Assume all changes in stockholders’ equity are due to changes in retained earnings.
Walco Corporation Gunther Enterprises
Beginning of year
Total assets 112,000 154,000
Total liabilities 67,000 $83,600 (d)
Total stockholders' equity 45,000 (a) 70,400
End of year
Total assets 165,300 (b) 177,000
Total liabilities 112,000 56,000
Total stockholders' equity 53,300 121,000 (e)
Changes during year in retained earnings
Dividends 43,700 (c) 4,400
Total revenues 213,000 124,800 (f)
Total expenses $161,000 83,000
Answers: 2
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