[cstjlw]

I am in a introductory accounting class and have a problem with looking at a balance sheet and income statement with missing amounts. For example company A, I have a missing amount in the additional investments into the company. How do I go about finding the missing amount? Company B the missing amount is the revenue, Company C total withdrawals from the business, Company D has the beginning Assets of the year missing. The entire statement has amounts consisting of Beg. Assets and Liabilities, End of year Assets and Liabilities,Additional Investments and Withdrawals from the business and last Revenues and Expenses. I am sure there is a formula to calculate these missing amounts I am just not sure what that is. Any help would greatly be appreciated.

[MaggieMouse]

Assuming these companies are not interrelated, for each of them, you need to figure out the relationship among Balance Sheet, Income Statement and Statement of Shareholders' Equity. This problem is trying to test you where their links are.

Net income goes to statement of shareholders' equity to reach the ending equity amount, which will go to the retained earnings in the balance sheet.

[jeriooble]

Presented here are the components in Pedersen Company's income statement. Determine the missing amounts.

Sales
Cost
Of Goods Sold
Gross Profit
Operating Expenses
Net Income

$71,200 (b)$ $30,000 (d)$ $10,800
$108,000 $70,000 (c)$ (e)$ $29,500
(a)$ $71,900 $109,600 $46,200 (f)$

[pready]

For Gross Profit simply subtract Cost of Goods Sold from your Sales.

For Net Income simply subtract Operating Expenses from your Gross Profit.