Below are incomplete financial statements for Cyclone, Inc. Required: Calculate the missing amounts. CYCLONE, INC....
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Below are incomplete financial statements for Cyclone, Inc. Required: Calculate the missing amounts. CYCLONE, INC. Income Statement Year ended Dec. 31, 2021 Revenues Expenses: Salaries $ 13,000 Rent 7,000 Advertising 5,000 Net income CYCLONE, INC Statement of Stockholders' Equity Year ended Dec. 31. 2021 Common Retained Total Stock Earnings Stockholders Equity $ 14,000 $ 7,000 $ 21,000 Beginning balance Issuances of stock Add: Net income Less: Dividends Ending balance 5,000 5,000 $ 17,000 $ 8,000 $ 25,000 Assets $ $ CYCLONE, INC. Balance Sheet Dec 31, 2021 Llabilities 1.100 Accounts payable Stockholders' Equity 6,000 Common stock 16,000 Retained earnings Total liabilities and stockholders' equity 4,000 Cash Supplies Land Building Total assets
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