Presented below are certain account balances of Paczki Products Co.

Instructions

From the foregoing, compute the following:

(a) Total net revenue,

(b) Net income,

(c) Dividends declared during the current year.

Transcribed Image Text:

Rental revenue $ 6,500 Sales discounts $ 7,800 Selling expenses Interest expense Beginning retained earnings 12,700 99,400 114,400 Sales 390,000 Ending retained earnings 134,000 Income tax 31,000 Dividend revenue Cost of goods sold Administrative expenses 71,000 184,400 Sales returns 12,400 82,500