The year-end financial statements of Grunewald Company contained the following elements and corresponding amounts. Assets = $21,600;
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Question:
The year-end financial statements of Grunewald Company contained the following elements and corresponding amounts.
Assets = $21,600;
Common Stock = $5,000;
Revenue = $11,500;
Dividends = $680;
Beginning Retained Earnings = $3,995;
Ending Retained Earnings = $6,485.
The amount of liabilities reported on the end-of-period balance sheet was? And Based on this information, the amount of expenses on Grunewald's income statement was?
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