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Business, 19.05.2020 19:06 homework1911

Here are incomplete financial statements for Brandon, Inc.
Calculate the missing amounts.
BRANDON, INC.
Balance Sheet
Assets Liabilities and Stockholders' Equity
Cash $5,000 Liabilities Inventory 10,000
Accounts payable $5,000 Buildings 40,000
Stockholders' equity
Common stock
Retained earnings
Total assets $55,000 Total liabilities and stockholders' equity $55,000
Income Statement
Revenues $80,000
Cost of goods sold
Administrative expenses 10,000
Net income $
Retained Earnings Statement
Beginning retained earnings $10,000
Net income Dividends 5,000
Ending retained earnings $24,000

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Here are incomplete financial statements for Brandon, Inc.
Calculate the missing amounts.

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