Determine the missing amounts

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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 2017.

 

Walco Corporation

Gunther Enterprises

Beginning of year

Total assets

$120,000

$144,000

Total liabilities

62,000

$

Total stockholders' equity

$

75,000

End of year

Total assets

$

178,000

Total liabilities

129,000

51,000

Total stockholders' equity

51,100

$

Changes during year in retained earnings

Dividends

$

5,400

Total revenue

219,000

$

Total expenses

160,000

82,000

Required - Determine the missing amounts. Assume all changes in stockholders equity are due to changes in retained earnings.

Reference no: EM132220462

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