Exam 16 Saved Help SaveExit Submit The yearend tinancial sta

Exam 16 Saved Help Save&Exit; Submit The year-end tinancial statements ot Calloway Company contained the tollowing elements and corresponding amounts Assets $24,000 Liabilities- Common Stock $5.400; Revenue $11,800; Dividends $950, Beginning Retained Earnings $3,950, Ending Retained Earnings $7400 Based on this information, the amount of expenses on Calloway\'s income statement was 00:33:50 Multiple Choice $8.350 $3,450 $14,800 $7,400

Solution

Answer is $ 7400 Explanation:; Ending Retained earining 7400 Add: Dividend: 950 Less: Beginning Retained earning -3950 Net income for the year 4400 Revenues 11800 Expense for the year (11800-4400) 7400