Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts.DONAVAN, INC.Balance SheetAssets$ 13,300CashInventory16,30038,700Buildings$68,300Total assetsLiabilities and Stockholders' EquityLiabilities$ 5,100Accounts payableStockholders' EquityCommon stock(a)Retained earnings(b)$68,300Total liabilities and stockholders' equityDONAVAN, INC.Income Statement$85,600RevenuesCost of goods sold(c)Salaries and wages expense10,460(d)Net Income$4DONAVAN, INC.Retained Earnings StatementBeginning retained earnings$18,300Add: Net income(e)4,520Less: Dividends$33,300Ending retained earnings

The retained earnings show that (b) equals $33,300.

Answered: Here are incomplete financial…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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