Question

Problem 1-4A Understand the format of financial statements and the links among them (L01-3) Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. 29,500 BULLDOG, INC. Income Statement Revenues $ Expenses: Salaries Advertising Utilities 4,100 2,100 Net income BULLDOG, INC. Statement of Stockholders' Equity Common Retained Total Stockholders' Stock Earnings Equity Beginning balance $ 8,100 $ 5,100 $ 13,200 Issuances 1,100 1,100 Add: Net income Less: Dividends (1,100) (1,100) Ending balance $ 9,200 $ 8,100 $ 17,300 Assets $ Cash Accounts receivable Supplies Equipment Total assets BULLDOG, INC. Balance Sheet Liabilities 2,100 Accounts payable 2,650 Stockholders' Equity 7,100 Common stock 8,100 Retained earnings 19,950 Total liabilities and stockholders' equity $

Answer 1

1) Income statement

Revenues	29500
Expenses
Salaries	19200
Advertising	4100
Utilities	2100
Net income	4100

2) Statement of Stockholder's equity

	Common Stock	Retained earnings	Total Stockholder's equity
Beginning balances	8100	5100	13200
Issuance	1100		1100
Add: Net income		4100	4100
Less: Dividends		-1100	-1100
Ending balances	9200	8100	17300

3) Balance sheet

Assets		Liabilities
Cash	2100	Accounts payable	2650
Account receivable	2650	Stockholder's equity
Supplies	7100	Common Stock	9200
Equipment	8100	Retained earnings	8100
Total assets	19950	Total liabilities and stockholder' s equity	19950