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Assume that retained earnings increased by $66536 from June 30 of year 1, to June 30...

Assume that retained earnings increased by $66536 from June 30 of year 1, to June 30 of year 2. A cash dividend of $2171 was declared and paid during the year. The firm sold Capital Stock for $10,000 in cash during the year. Assume expenses for the year were $51017. Compute the revenue for the year.

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Answer #1
CALCULATION OF REVENUE FOR THE YEAR
Addittion to Retained Earnings = $                  66,536
Add: Cash Dividend Paid $                     2,171
Net Income $                  68,707
Add: Expenses of the year = $                  51,017
Revenue of the year = $               1,19,724
Answer = Revenue of the year = $ 119,724
Note: Capital Stock sales is not a part of the revenue
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