Ltems from the income statement, statement of retained earnings, and balance sheet are listed below in alphabetical order. for the companies shown in each column, solve for the missing amounts.

weil inc. simon inc. kealy corp.
common stock $10 $19 $18
dividends 0 0 2
net income 15 10 12
retained earnings, beginning of year 20 21 27
retained earnings, end of year 35 31
total assets 73 63
total expenses 52 21 34
total liabilities 28 13 14
total revenues 67 31 46

Closing retained earnings for Kealy Corp=27+12-2=$37

Total Assets for Kealy Corp=Total liabilities+common stock+retained earnings

                                             =14+18+37=$69

Explanation:

The closing retained earnings can be determined using the following formula:

Closing retained earnings= opening retained earnings+net income- dividend paid

Closing retained earnings for Kealy Corp=27+12-2=$37

Total Assets= Total liabilities+total equity

Where as total equity= common stock+retained earnings

Total Assets for Kealy Corp=Total liabilities+common stock+retained earnings

                                             =14+18+37=$69