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nexus9112 [7]
3 years ago
11

Patterson Corporation began the year with retained earnings of $325,000. During the year, the company issued $500,000 of common

stock, recorded expenses of $1,500,000, and paid dividends of $90,000. If Patterson’s ending retained earnings was $350,000, what was the company's revenue for the year?
Business
1 answer:
timofeeve [1]3 years ago
7 0

Answer:

$1,615,000

Explanation:

total revenue for the year can be calculated by adding retained earnings (at end of the year) + distributed dividends + total expenses - retained earnings (at the beginning of the year)

total revenue = $350,000 + $90,000 + $1,500,000 - $325,000 = $1,615,000

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