Calculate the missing amounts for all of the blanks with a blue outline ...
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Accounting
Calculate the missing amounts for all of the blanks with a blue outline
Problem 1-4B Understand the format of financial statements and the link among them (LO1-3) Below are incomplete financial statements for Cyclone, Inc. Rectangular Snip Required: Calculate the missing amounts. CYCLONE, INC. Income Statement Year ended Dec. 31, 2021 Revenues Expenses Salaries $ 11,500 Rent 5,500 Advertising 3.500 Net income CYCLONE, INC. Statement of Stockholders' Equity Year ended Dec. 31, 2021 Total Common Retained Stockholders' Stock Earnings Equity $ 12,500 $ 5,500 $ 18,000 $ Beginning balance Issuances of stock Add: Net income Less: Dividends Ending balance 3,500 3,500 $ 14,000 $ 6,500 $ 20,500 Assets $ CYCLONE, INC. Balance Sheet Dec. 31, 2021 Liabilities 1,000 Accounts payable Stockholders' Equity 4,500 Common stock 14,500 Retained earnings Total liabilities and stockholders' equity $ Cash Supplies Land Building Total assets 2,500
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