QUESTION 5 The following information was taken from the September financial stat

Question

QUESTION 5 The following information was taken from the September financial statements of the Karen Corporation. Determine the net dollar amount by which resources increased through management activities in September sets, September 30 Common Stock, September 30 Dividends, September 1 through September 30 Expenses, September 1 through September 30 Liabilities, September 30 Retained Earnings, September 30 Revenues, September 1 through September 30 S910,000 $160,000 $40,000 $210,000 $500,000 $250,000 $360,000 a. $250,000 b. S360,000 C. $110,000 d. $150,000

Explanation / Answer

Revenue 360000 Less Expense 210000 Net income 150000 Less Dividend 40000 Net increase in retained earnings 110000 Correct answer is C 110,000

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