Question

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 $156,000 $111,000 Total assets 82,100 (d) 72,000 24 Total liabilities 73,900 %24 39,000 (a) Total stockholders' equity End of year 177,000 (Ь) 183,400 Total assets 57,000 130,000 Total liabilities 120,000 (e) %24 53,400 Total stockholders' equity Changes during year in retained earnings 4,000 (c) 14,400 %24 Dividends 153.600 (0 24 218,000 Total revenues 83,000 166,000 Total expenses

Answer 1

Walco Corporation

Ending stockholders Equity = Beginning stockholders equity + Revenues - Expenses - Dividends

53,400 = 39,000+218,000-166,000- Dividends

Dividends = $37,600

Gunther Enterprises

Ending stockholders Equity = Beginning stockholders equity + Revenues - Expenses - Dividends

120,000 = 73,900+Revenues - 83,000 -4,000

Revenues = $133,100

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