Statement of changes in owners' equity
This is all the information I am given and I am told to create an income statement, balance sheet, and statement of changes in owners' equity. I got everything figured out but I am missing a number in the statement of changes in owners' equity which is the beginning balance
Information given
Merchandise inventory 264,000
Notes payable (long term) 300,000
Sales 900,000
Builds and equipment 504,000
Selling general and admin expenses 72,000
Accounts receivable 120,000
Common stock (42,000 shares) 210,000
Income tax expense 84,000
Cash 192,000
Retained earnings, 1/1/10 129,000
Accrued liabilities 18,000
Cost of goods sold 540,000
Accumulated depreciation 216,000
Interest expense 48,000
Accounts payable 90,000
Dividends declared and paid during 2010 39,000
My work
Paid-in capital:
Common stock 210,000
Retained earnings: 129,000
Beginning balance - I DON'T KNOW
Net income for the year 156,000
Less: Dividends declared and paid during the year 39,000
Ending balance 117,000
Total owners' equity 327,000
