Question

Summarized versions of Espinola Corporation's financial statements for two recent years are as follows.

Complete Espinola Corporation's financial statements by determining the missing amounts denoted by the letters. If​ necessary, round numbers up to the nearest whole dollar. ​

(Round the tax calculation to the nearest thousand dollars. Use parentheses when entering a net decrease in​ cash)

	2019	2018
Income Statement	(in Thousands)
Revenues	$ K	$15,750
Cost of goods sold	11,070	A
Other expenses	1,270	1,250
Income before income taxes	1,590	1,890
Income taxes (35%)	L	662
Net income	$ M	$ B
Statement of Retained Earnings
Beginning balance	$ N	$2,770
Net income	O	C
Dividends	(84)	(130)
Ending balance	$ P	$ D
Balance Sheet
Assets
Cash	$ Q	$ E
Property, plant, and equipment	1,577	1,356
Other assets	R	11,877
Total assets	$ S	$14,493
Liabilities
Current liabilities	$ T	$5,690
Long-term debt	4,800	3,320
Other liabilities	1,005	1,150
Total liabilities	$9,600	$ F
Stockholders' equity:
Common stock	$275	$275
Retained earnings	U	G
Other stockholders' equity	160	190
Total stockholders' equity	V	4,333
Total liabilities and stockholders' equity	$ W	$ H
Cash Flow Statement
Net cash provided by operating activities	$ X	$1,075
Net cash used in investing activities	(240)	(475)
Net cash used in financing activities	(560)	(550)
Increase (decrease) in cash	(90)	I
Cash at beginning of year	Y	1,210
Cash at end of year	$ Z	$ J

Answer 1

INCOME STATEMENT

STATEMENT OF RETAINED EARNINGS

BALANCE SHEET

ASSETS

LIABILITIES

STOCKHOLDERS' EQUITY

CASH FLOW STATEMENT

All the best...