1It is generally thought that the financial s

1It is generally thought that the financial s

1It is generally thought that the financial statements report on the financial health and progress (or digress) of a company. Select one of the financial reports and explain what information it provides for decision making2Please attempt this problem and see what you come up with. Please do not attach a file with your response, instead write or copy and paste your answer into the threads. Thanks.E1-21AAmounts of the assets and liabilities of Mary Burke Banking Company, as of August 31, 2012, are given as follows. Also included are revenue and expense figures for the year ended on that date (amounts in millions):Total revenue$ 31.4Receivables0.3Current liabilities155.4Common stock14.2Interest expense0.1Salary and other employee expenses17.4Long-term liabilities2.6Investment assets$169.3Property and equipment, net1.6Other expenses6.6Retained earnings, beginning9.3Retained earnings, ending?Cash2.8Other assets14.2Construct the balance sheet of Mary Burke Banking Company at August 31, 2012. Use the accounting equation to compute ending retained earnings.


Comments are closed.