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Current Attempt in Progress The income statement for the year 2021 of Pearl Co. contains the following information: Revenues $71300 Expenses: Salaries and Wages Expense $42800 Rent Expense 12600 Advertising Expense 9500 Supplies Expense 6000 Utilities Expense 2400 Insurance Expense 2000 Total expenses 75300 Net income (loss) $(4000) At January 1, 2021, Pearl reported retained earnings of $48900. Dividends for the year totalled $8900. At December 31, 2021, the company will report retained earnings of 00 $28000. ○ $44900. $36000. ○ $40000.

Current Attempt in Progress The income statement for the year 2021 of Pearl Co. contains the following information: Revenues $71300 Expenses: Salaries and Wages Expense $42800 Rent Expense 12600 Advertising Expense 9500 Supplies Expense 6000 Utilities Expense 2400 Insurance Expense 2000 Total expenses 75300 Net income (loss) $(4000) At January 1, 2021, Pearl reported retained earnings of $48900. Dividends for the year totalled $8900. At December 31, 2021, the company will report retained earnings of 00 $28000. ○ $44900. $36000. ○ $40000.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Current Attempt in Progress The income statement for the year 2021 of Pearl Co. contains the following information: Revenues $71300 Expenses: Salaries and Wages Expense $42800 Rent Expense 12600 Advertising Expense 9500 Supplies Expense 6000 Utilities Expense 2400 Insurance Expense 2000 Total expenses 75300 Net income (loss) $(4000) At January 1, 2021, Pearl reported retained earnings of $48900. Dividends for the year totalled $8900. At December 31, 2021, the company will report retained earnings of 00 $28000. ○ $44900. $36000. ○ $40000.
Transcribed Image Text:Current Attempt in Progress The income statement for the year 2021 of Pearl Co. contains the following information: Revenues $71300 Expenses: Salaries and Wages Expense $42800 Rent Expense 12600 Advertising Expense 9500 Supplies Expense 6000 Utilities Expense 2400 Insurance Expense 2000 Total expenses 75300 Net income (loss) $(4000) At January 1, 2021, Pearl reported retained earnings of $48900. Dividends for the year totalled $8900. At December 31, 2021, the company will report retained earnings of 00 $28000. ○ $44900. $36000. ○ $40000.
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