Question

Gilkey Corporation began the year with retained earnings of $310,000. During the year, the company issued $420,000 of common stock, recorded expenses of $1,200,000, and paid dividends of $80,000. If Gilkey’s ending retained earnings was $330,000, what was the company’s revenue for the year?

Answer 1

what was the company’s revenue for the year?

Revenue ___1300000

Step-by-step explanation:

Retained earnings 310000

Expenses 1200000

Endind retained earnings 330000

Beginning Retained earnings_310000

Paid dividens___________-80000

Net income_________________x 100000

Ending retained earnings_ 330000

Net income_100000

Revenue ___1300000

Expenses___-1200000

Net Income__100000