Question: Applying Accounting Relations: Balance Sheet, Income Statement, and Equity Statement (Easy) The following questions pertain to the same firm.
a. The balance sheet reports $400 million in total assets and $250 million in shareholders; equity at the end of a fiscal period. What are the firms liabilities?
b. The income statement reports $30 million in net income and $175 million in total expenses for the period. What are the firm's revenues?
c. The shareholders; equity statement has a beginning balance for the period of $230 million and the firm had a net payout to shareholders of $12 million. What is the firms comprehensive income for the year? How much income is reported in the equity statement rather than the income statement?
d. There were no share issues or stock repurchases during the year. How much did the firm pay in dividends?