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10 October, 06:37

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

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  1. 10 October, 10:30
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    Solution:

    Retained earnings for the year = closing balance of retained earning â€" 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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