Brief Exercise 3-11 Blossom has year-end account balances of Sales Revenue $839,807, Interest Revenue $13,020, Cost of Goods Sold $534,832, Administrative Expenses $193,450, Income Tax Expense $32,693, and Dividends $19,345.
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A firm has $800,000 in paid-in-capital, retained earnings of $40,000 (including the current year's earnings), and $25,000 shares of common stock outstanding. In the current year, it has $29,000 of earnnings available for common stockholders. a.
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