Sapphire Corp.

Lance Co.

Branch Inc.

Beginning
Assets
Liabilities
Share Capital
Retained earnings

HK$

83 HK$
47
2
34

35 HK$
23
2
10

7
2
1
4

Assets
Liabilities
Share Capital
Retained earnings

HK$

84 HK$
49
2
33

54 HK$
34
2
18

8
3
1
4

Revenues
Expenses
Net income

HK$

221 HK$
213
8

162 HK$
152
10

18
15
3

Beginning retained Earnings

Net income
Dividends
Ending retained earnings

HK$
HK$

34 HK$
8
-9
33

10 HK$
10
-2
18

4
3
-3
4

Ending

Income Statement

Retained Earnings

Highest net income- Lance Co. $10

precent of net income to revenue
Sapphire Co.
3.61%
Lance Co.
6.17%
Branch Co.
16.66%

L
S
A
S
A
A

Accounts Payable
Sahre Capital
Supplies
Retained earnings
Land
Prepaid expenses

A
L
A
L
L
A

Accounts receivable
Long-term debt
Merchandise inventory
Notes Payable
Expenses payable
Equipment

Call Anywhere Wireless

Income Statement
For the year ended December 31, 20X6
Revenues
Less: Expenses
Net Income

$(million)
94
23
71

Roma Corp.
Statement of changes in equity
For the year ended December 31, 20X6
Total equity , January 1,20X6 ($100+210)
Add: Net income($380-250)
Less: Dividends
Total equity , December 31,20X6

$(million)
310
130
440
43
397

Tommer Products
Balance Sheet
As at December 31, 20X6
Assets

Liabilities
$

Current Assets
Cash
Receivables
Invebtory
Total current assets
Equipment

Total Assets

12000
5000
42000
59000
82000

141000

Current Liabilities
Accounts Payable
Total current liabilities
Long-term Liabilities
Notes payable
Total Liabilities
Stockholders' equity
Share Capital
Retained earning
Total liabilities and Stockholders

Liabilities
$
17000
17000

ties
78000
95000

ity

s and Stockholders

14800
31200
141000