Business, 11.02.2020 00:10 mollykay2001p3qo0j

Golden Enterprises started the year with the following: Assets $107,000; Liabilities $37,000; Common Stock $67,000; Retained Earnings $3,000. During the year the company earned revenue of $5,700, all of which was received in cash, and incurred expenses of $3,350, all of which were unpaid as of the end of the year In addition, the company paid dividends of $1,700 to owners. Assume no other activities occurred during the year What was the amount of Golden's net income for the year?

Multiple Choice
A. $1,700
B. $2,350
C. $5,700
D. $3,350

Answers: 1

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Golden Enterprises started the year with the following: Assets $107,000; Liabilities $37,000; Common...