Mica inc. began operations in October, 2011. During October, Mica sold ordinary shares for $ € 200,000 $, earned revenue of $ € 22,000 $, incurred expenses of $ € 12,000 $, and paid dividends of $ € 1,000 $. Equity at the end of the month is

Question

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Equity at the end of the month is calculated as follows:Equity = Share capital + Retained earningsShare capital = €200,000Retained earnings = Revenue - Expenses - DividendsRetained earnings = €22,000 - €12,000 - €1,000 = €9,000Equity = €200,000 + €9,000 = €209,000

Mica Inc Began Operations in October, 2011 €200,000 € 200,000 €200,000

Mica Inc Began Operations in October, 2011 $€ 200,000$