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Novak corp. began the year with retained earnings of $935000. during the year, the company issued $1331000 of common stock, recorded expenses of $3577000, and paid dividends of $243000. if novak ending retained earnings was $995000, what was the company's revenue for the year? $3880000 $4968000 $50140000 $3637000

Respuesta :

W0lf93
Solution: 
Retained earnings for the year = closing balance of retained earning – opening balance of retained earning
 = $995000 - $935000
 = $60000 
 Revenue = Retained earnings for the year + dividends paid + expenses
 $60000 + $243000 + $3577000 = $3880000 
 Revenue of the company = $3880000

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