Dean Co. Loiselle, Inc. Bailey Corp. Beginning Assets . . . . . . . ....

	Dean Co.	Loiselle, Inc.	Bailey Corp.
Beginning
Assets . . . . . . . . . . . .	$ 76	$ 41	?
Liabilities . . . . . . . . . .	51	15	2
Common stock . . . . .	5	6	7
Retained earnings . .	?	20	10

Ending
Assets . . . . . . . . . . . .	?	$60	$ 21
Liabilities . . . . . . . . . .	52	27	?
Common stock . . . . .	5	?	4
Retained earnings . .	33	?	?

Income Statement
Revenues . . . . . . . . .	$227	?	$ 26
Expenses . . . . . . . . .	211	154	?
Net income . . . . . . . .	?	?	?

Statement of retained earnings
Beginning RE . . . . . .	$ 20	$ 20	$ 10
+ Net income . . . . . .	?	20	6
- Dividends declared	(3)	(17)	0
= Ending RE . . . . . . .	$33	$23	$16

Expert Solution

	Dean Co.	Loiselle, Inc.	Bailey Corp.
Beginning
Assets	$76	$41	19
Liabilities	51	15	2
Common stock	5	6	7
Retained earnings	$20	20	10

Ending
Assets	90	$60	$21
Liabilities	52	27	1
Common stock	5	$10	4
Retained earnings	33	23	16

Income Statement
Revenues	$227	174	$26
Expenses	211	154	20
Net income	$16	20	6

Statement of retained earnings
Beginning RE	$20	$20	$10
+ Net income	16	20	6
- Dividends declared	-3	-17	0
= Ending RE	$33	$23	$16

	Dean Co.	Loiselle, Inc.	Bailey Corp.
Beginning
Assets	$76	$41	(2+7+10)
Liabilities	51	15	2
Common stock	5	6	7
Retained earnings	(76-51-5)	20	10

Ending
Assets	(52+5+33)	$60	$21
Liabilities	52	27	(21-4-16)
Common stock	5	(60-27-23)	4
Retained earnings	33	From RE below	From RE below

Income Statement
Revenues	$227	(154+20)	$26
Expenses	211	154	(26-6)
Net income	From RE below	From RE below	From RE below

Statement of retained earnings
Beginning RE	$20	$20	$10
+ Net income	(33+3-20)	20	6
- Dividends declared	-3	-17	0
= Ending RE	$33	$23	$16

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