Homework Answers
1) Net income = Revenue-Expense = 606900-497700 = 109200
2) Ending balance of retained earnings = Beginning balance+Net income-Dividend = 65700+109200-4000 = 170900
3) Total Current assets = 243400
4) Total current liabilities = 92500
5) Total Stockholder's equity = 23000+170900 = 193900
6) Total assets = 243400+25000+94000-60000 = 302400
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