BE 201Use the following information to calculate for the year ended December 31, 2018 (a) net income, (b) ending retained earnings, and (c) total assets. $$\begin{array} { l r l r }
\text { Supplies } & \$ 3,000 & \text { Revenues } & \$ 25,000 \
\text { Operating expenses } & 12,000 & \text { Cash } & 15,000 \
\text { Accounts payable } & 9,000 & \text { Dividends } & 1,000 \
\text { Accounts receivable } & 3,000 & \text { Notes payable } & 1,000 \
\text { Beginning retained earnings } & 5,000 & \text { Equipment } & 6,000
\end{array}$$

Question

BE 201Use the following information to calculate for the year ended December 31, 2018 (a) net income, (b) ending retained earnings, and (c) total assets. $$\begin{array} { l r l r } 
\text { Supplies } & \$ 3,000 & \text { Revenues } & \$ 25,000 \
\text { Operating expenses } & 12,000 & \text { Cash } & 15,000 \
\text { Accounts payable } & 9,000 & \text { Dividends } & 1,000 \
\text { Accounts receivable } & 3,000 & \text { Notes payable } & 1,000 \
\text { Beginning retained earnings } & 5,000 & \text { Equipment } & 6,000
\end{array}$$

Quizplus · Accepted Answer

The Answer of BE 201Use the following information to calculate for the year ended December 31, 2018 (a) net income, (b) ending retained earnings, and (c) total assets. $$\begin{array} { l r l r } 
\text { Supplies } & \$ 3,000 & \text { Revenues } & \$ 25,000 \
\text { Operating expenses } & 12,000 & \text { Cash } & 15,000 \
\text { Accounts payable } & 9,000 & \text { Dividends } & 1,000 \
\text { Accounts receivable } & 3,000 & \text { Notes payable } & 1,000 \
\text { Beginning retained earnings } & 5,000 & \text { Equipment } & 6,000
\end{array}$$

BE 201Use the Following Information to Calculate for the Year