P158A similar to Data Tabe Review the following financial in

P1-58A (similar to Data Tabe Review the following financial informaion EB(Click the ioon to view the financial information.) Hagar, Inc. Bryan Corp. Garnet Co. 1 Compube the missing amount (?) for each company amounts in millions. 2 At the end of the year, which company has the Beginning 43 80 $ - highest net income? 15 highest percent of net income to revenues? Common stock Ratained earmings 13 Requirement 1. Compute the missing amount () for each company-amounts in millia Gamet Co Ending 61 $ 25 7 $ 80 Assets Assels 49 47 Common stock Retained eamings Common stock 38 Retained eamings Income Statement 7 S 212 158 Expenses Net inoome Commen stock Retained eamings 38 Statement of retained earnings 31 $ 22 $ 13 Income statement Beginning RE 28 212 Dvidends declared 38 $ 29 $ 18 Net income Ending RE Enter any numbar in the edit fieids and then click CheckAnwor Print Done

Solution

Solution 1:

Solution 2:

From above income statement, we can say that at the end of year, Hager Inc. is having highest net income.

Bryan corp is having highest % of net income to revenue.

Computation of missing amount
Particulars	Garmet Co	Hagar Inc.	Bryan Corp
Beginning:
Assets	$80.00	$43.00	$21.00
Liabilities	$47.00	$15.00	$4.00
Common stock	$2.00	$6.00	$4.00
Retained earnings	$31.00	$22.00	$13.00
Ending:
Assets	$89.00	$61.00	$24.00
Liabilities	$49.00	$25.00	$3.00
Common stock	$2.00	$7.00	$3.00
Retained earnings	$38.00	$29.00	$18.00
Income Statement:
Revenue	$222.00	$184.00	$28.00
Expenses	$212.00	$156.00	$21.00
Net Income	$10.00	$28.00	$7.00
Statement of retained earnings:
Beginning RE	$31.00	$22.00	$13.00
Add: Net Income	$10.00	$28.00	$7.00
Less: Dividend declared	-$3.00	-$21.00	-$2.00
Ending RE	$38.00	$29.00	$18.00