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How Can I solve for the unknowns?
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How Can I solve for the unknowns?
For A, either create a beginning-of-period balance sheet, or just use the "Accounting Identity" that Assets = Debt + Equity. Sufficient data has been provided for that.
For B remember the ingredients of a basic P & L: Revenue minus Expenses = Net Income.
C and D will follow from the effects that dividends, net income, and shareholder investment have on Retained Earnings and Paid-In Capital.
Finally, you'll determine E at the end of the period just as you did for A, above.
There's a few pretty good hints you can run with. If you're still hitting a wall, first review the forum's Homework Help rules, and then re-post, showing your progress at working it out. Cheers!
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