During the year, Blue Company had revenues of $240,000, expenses of $75,000, and stock issuances of $80,000. Dividends during the year were $8,000. If retained earnings at the beginning of the year was $90,000, what was retained earnings at the end of the year? Question options: $162,000 $247,000 $170,000 $327,000 Im pretty sure it is 247,000 but could I get an explanation of the answer?

During the year, Blue Company had revenues of $240,000, expenses of $75,000, and stock issuances of $80,000. Dividends during the year were $8,000. If retained earnings at the beginning of the year was $90,000, what was retained earnings at the end of the year? Question options: $162,000 $247,000 $170,000 $327,000 Im pretty sure it is 247,000 but could I get an explanation of the answer?

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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