Homework Answers
Revenues = $4,250
Expenses = $3,000
Net income = Revenues- Net income
= 4,250-3,000
= $1,250
Cash dividends = $550
Retained earnings = Net income - Cash dividends
= 1,250-550
= $700
Equity at December 31 = Common stock + Retained earnings
= 8,500+700
= $9,200
Cash flows from financing activities = Issue of common stock - Cash dividendss
= 8,500-550
= $7,950
Cash flows from operating activities = Net income = $1,250
Second option is True.
Kindly comment if you need further assistance. Thanks‼!
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