Question

Below are incomplete financial statements for Cyclone, Inc.

Required:
Calculate the missing amounts.
  
CYCLONE, INC. Income Statement Year ended Dec. 31, 2021 Revenues Expenses: Salaries | $ 11,600 Rent 5,600 Advertising 3,600 N

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Revenue 24400
Expenses
Salaries 11600
Rent 5600
Advertisement 3600
Net income 3600
Common stock Retained earning Total stakeholder's equity
Beginning balance 12600 5600 18200
Issuance of stock 1600 1600
Add: Net income 3600 3600
Less: Dividend 2600 2600
Ending balance 14200 6600 20800
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