Question

Question 5 1.5 out of 1.5 points Hadley Dress Shops experienced the following events during its third accounting period. (1) Sold merchandise that cost $6,970 for $15,950 cash. (2) Pald $3,962 of operating expenses (3) Paid a $2,530 cash dividend. Based on this information, the total amount of net increase to retained earnings would be $ Question 6 O out of 1.5 points Alexa Company was started in Year 1. At the end of Year 1 the Company's had the following accounting equation. Assets Liabilities Stockholders' Equity Cash + Land Notes Payable + Common Stock + Retained Earnings 700 2,100 1,000 1,200 600 + During Year 2, the company experienced the following accounting events. • Paid off $540 of its note payable • Earned $2,605 of cash revenue. • Paid $1,525 of cash expenses. • Paid a $420 cash dividend. Based on this information alone, Based on this information alone, what percent of the company's assets at the end of Year 2 were provided by earnings ? % Answer as a percentage. For example, if you answer is.1, answer as 10 (for 10%)

Answer 1

1-
sales		15950
cost of goods sold		6970
gross profit		8980
operating expense		3962
net income		5018
dividend paid		2530
net amount increased to retained earning		2488
2-
cash revenue		2605
cash expenses		1525
net income		1080
dividend paid		420
net amount increased to retained earning		660
what % of the company's assets at the end of year 2 were provided by earning		660/2920	22.60%
Assets at the end of Year 2	2800+2605-540-1525-420	2920