The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets = $36,000; Liabilities = ?; Common Stock = $6,600; Revenue = $14,200; Dividends = $1,550; Beginning Retained Earnings = $4,550; Ending Retained Earnings = $8,600.
1. Required information
Based on this information, the amount of expenses on Calloway's income statement was
$4,050. $8,600. $17,200. $10,150.
2. Required information The amount of liabilities reported on the end-of-period balance sheet was
$13,150. $24,850. $11,150. $20,800.