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Fill in the Missing Information by Determining the Amounts Represented  Income statement \text { Income statement }

question 150

Short Answer

Fill in the missing information by determining the amounts represented by letters a - d.
 Income statement \text { Income statement }
 Revenue $a Expense 6,200 Iet income $b\begin{array}{lr}\text { Revenue } & \$ a \\\text { Expense } & 6,200 \\\text { Iet income } & \$ b\end{array}

 Statement of Changes in Stockholders’ Equity \text { Statement of Changes in Stockholders' Equity }

 Beginning common stock $0 Plus: Issuance of common stock 11,000 Ending common stock 11,000 Beginning retained earnings $0 Add: net income 3,500 Ending retained earnings $ c Total stockholders’ equity $ d\begin{array}{lr}\text { Beginning common stock } & \$ 0 \\\text { Plus: Issuance of common stock } & 11,000 \\\text { Ending common stock } & 11,000\\\text { Beginning retained earnings } & \$ 0 \\\text { Add: net income } & 3,500 \\\text { Ending retained earnings } & \$ \mathrm{~c} \\ \text { Total stockholders' equity } & \$ \mathrm{~d}\end{array}


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