Multiple Choice Question 124
Kingbird, Inc. began the year with retained earnings of $925000.
During the year, the company issued $1274000 of common stock,
recorded expenses of $3650000, and paid dividends of $242000. If
Kingbird ending retained earnings was $985000, what was the
company’s revenue for the year?
$3710000
$50212000
$3952000
$4984000
Multiple Choice Question 122
Sheffield Corp. began the year by issuing $106000 of common stock
for cash. The company recorded revenues of $1214000, expenses of
$965000, and paid dividends of $56000. What was Sheffield net
income for the year?
$249000
$355000
$299000
$193000