The following information for the current year was obtained from
The following information for the current year was obtained from the accounting records of Safari Supplies Corporation:
Retained earnings, beginning .......... $ 96,000
Retained earnings, ending ........... 105,600
Sales .................... 448,800
Cost of goods sold ............... 272,000
Selling expenses ............... 63,300
General and administrative expenses ........... 38,800
Dividend revenue ................ 4,800
Interest revenue ................ 2,200
Interest expense ................ 1,200
Income taxes expense ............. 26,400
Required:
Calculate the following items:
a. Total revenues
b. Total expenses
c. Net earnings
d. Dividends declared
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