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Leto [7]
3 years ago
15

Waterway Industries began the year with retained earnings of $316000. During the year, the company issued $421000 of common stoc

k, recorded expenses of $1204000, and paid dividends of $82100. If Waterway ending retained earnings was $336000, what was the company’s revenue for the year?
Business
1 answer:
Rus_ich [418]3 years ago
5 0

Answer:

<u>revenues = 1,201,100</u>

<u></u>

Explanation:

$$Beginning Retained Earnings$$$+/- Net Income/Loss$$$- Dividends$$$Equals Ending Retained Earning

beginning 421,000

+net income (revenues - 1,204,000)

- dividends 82,100

ending 336,000

421,000 + (r-1,204,000) - 82,100 = 336,000

revenues = 336,000 + 82,100 + 1,204,000 - 421,000

<u>revenues = 1,201,100</u>

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