Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
no idea but im pretty sure its 6 months
Explanation:
becuase i think so
Answer:
Net income for the year = $257,000
Explanation:
Retained earnings for the year= Net income - dividends paid.
Since no dividends were paid, retained earnings for the year = net income for the year. At the end of each accounting period, retained earnings are reported on the balance sheet, and the retained profits for the year are added to the beginning balance of retained earnings, to give a cumulative ending balance of $2,499,000.
therefore retained earnings for the year = ending retained earnings balance - beginning retained earnings balance = $2,499,000.-$2,242,000= $257,000.
Net income for the year is thus = $257,000 since no dividends were paid.
Answer:
It would take exactly 37 years
Explanation:
If we suppose that the economy starts at 10,000 billion dollars in 2020, the economy would only double by the year 2057, reaching a value of 20,399 billion dollars.
If we substract 2020 from 2057, we obtain 37, which is the number of years it took for this economy to double growing at a rate of 2% per year.
In order to make it a source of wealth it required slave labor
