Homework Answers
| a | Net sales | $ 190 |
| Less: Expenses | $ (110) | |
| Net income | $ 80 | |
| b | Net income | $ 80 |
| c & f | Beginning retained earnings | $ 71 |
| Add: Net incme | $ 80 | |
| Less: Dividends | $ (9) | |
| Ending retained earnings | $ 142 | |
| g | Common stock | $ 29 |
| Add: Retained earnings | $ 142 | |
| Total stockholders equity | $ 171 | |
| h | Total stockholders equity | $ 171 |
| Add: Total liabilities | $ 44 | |
| Total Liabilities and stockholders equity | $ 215 | |
| e | Total Liabilities and stockholders equity = Total assets | $ 215 |
| d | Total assets | $ 215 |
| Less: Cash | $ (119) | |
| All other assets | $ 96 |
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