Question

One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different corporations. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

Open spreadsheet

Determine the missing amounts. (Hint: First determine the amount of increase or decrease in stockholders' equity during the year.) Round your answers to the nearest dollar. Enter your answers as positive values.

	Freeman			Heyward			Jones			Ramirez
Beginning of the year:
Assets		$   627,400			$   727,800			$   269,800			$
Liabilities		376,400			378,500			205,000			350,100
End of the year:
Assets		778,000			1,018,900			242,800			723,500
Liabilities		338,800			320,200			215,800			396,800
During the year:
Additional common stock issued					145,600			27,000			116,700
Dividends		43,900			43,700						171,200
Revenue		207,000						310,300			326,700
Expenses		112,900			189,200			331,900			373,400

Answer 1

		Freeman	Heyward	Jones	Ramirez
	Beginning of the year:
	Assets	$627,400	$727,800	$269,800	$778,000
	Liabilities	376,400	$378,500	$205,000	$350,100
	End of the year:
	Assets	$778,000	$1,018,900	$242,800	$723,500
	Liabilities	$338,800	$320,200	$215,800	$396,800
	During the year:
	Additional common stock issued	$138,000	$145,600	$27,000	$116,700
	Dividends	$43,900	$43,700	$43,200	$171,200
	Revenue	$207,000	$436,700	$310,300	$326,700
	Expenses	$112,900	$189,200	$331,900	$373,400
	FREEMAN:
	Beginning of the Year Stockholder Equity=Assets -Liabilities
	Beginning of the Year Stockholder Equity	$251,000	(627400-376400)
	End of the Year Stockholders Equity	$439,200	(778000-338000)
	Increase in Stockholder Equity	$188,200	(439200-251000)
	Income =Revenue-Expenses
	Income=207000-112900=	$94,100
	Increase of Stockholders Equity=Additional Common stock Issued+Income-Dividends
	Additional Common Stock Issued=Increase in Equity +Dividends-Income
	Increase in Stockholder Equity	$188,200
	Add: Dividends	$43,900
	Less:Income of the year	$94,100
	Additional common stock issued	$138,000
	Heyward
	Beginning of the Year Stockholder Equity=Assets -Liabilities
	Beginning of the Year Stockholder Equity	$349,300	(727800-378500)
	End of the Year Stockholders Equity	$698,700	(1018900-320200)
	Increase in Stockholder Equity	$349,400	(698700-349300)
	Increase of Stockholders Equity=Additional Common stock Issued+Income-Dividends
	Income =Increase in Stockholder equity+Dividends-Additional Common Stock Issued
	Increase in Stockholder Equity	$349,400
	Add: Dividends	$43,700
	Less: Additional Common Stock Issued	$145,600
	Income of the year	$247,500
	Income =Revenue-Expenses
	Revenue=Income +Expense=	$436,700	(247500+189200)
	Jones
	Beginning of the Year Stockholder Equity=Assets -Liabilities
	Beginning of the Year Stockholder Equity	$64,800	(269800-205000)
	End of the Year Stockholders Equity	$27,000	(242800-215800)
	Increase in Stockholder Equity	-$37,800	(27000-64800)
	Increase of Stockholders Equity=Additional Common stock Issued+Income-Dividends
	Dividends=Additional Common StockIssued+Income-Increase in Stockholders Equity
	Income=Revenue-Expenses	-$21,600	(310300-331900)
	Additional Common Stock Isued	$27,000
	Add:Income	-$21,600
	Less: Increase in Stockholders Equity	-$37,800
	Dividends	$43,200
	Ramirez
	Increase of Stockholders Equity=Additional Common stock Issued+Income-Dividends
	Additional Common Stock Issued	$116,700
	Add:Income	-$46,700	(326700-373400)
	Less: Dividends	$171,200
	Increase of Stockholders Equity	-$101,200
	Stock holders Equity at end of Year	$326,700	(723500-396800)
	Less:Increase in stock holders Equity	-$101,200
	Stock holders Equity at Beginning of Year	$427,900
	Beginning of Year Liabilities	$350,100
	Asset at the Beginning of Year	$778,000	(427900+350100)