Question

Income Statement, Retained Earnings Statement, and Balance SheetThe amounts of the assets and liabilities of Glacier Travel Service as of September 30, 20Y6, the end of the current year, and its revenue and expenses for the year are listed below. The retained earnings were $150,000, and the common stock was $50,000 as of October 1, 20Y5, the beginning of the current year. Dividends of $10,000 were paid during the current year.Accounts payable $175,000Accounts receivable 321,000Cash 166,000Common stock 70,000Fees earned 900,000Miscellaneous expense $37,000Rent expense 180,000Supplies 13,000Supplies expense 38,000Taxes expense 30,000Utilities expense 75,000Wages expense 425,000

Answer 1

Answer:

b

Explanation: