b. 1/1/18 Assets $260,000 12/31/18 $195,000 Liabilities 125,000 45,000 Common stock 60,000 ? Retained earnings 75,000...

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b. 1/1/18 Assets $260,000 12/31/18 $195,000 Liabilities 125,000 45,000 Common stock 60,000 ? Retained earnings 75,000 ? During the year Blake Co. had expenses of $55,000, paid dividends of $11,500 and common stockincreased by $10,000. Required: Determine retained earnings at 12/31/18 and revenues for the year. c. During the year 2018 Safin Co. had revenues of $230,000 and expenses of $190,000. At12/31/17 the company had assets of $350,000, liabilities of $80,000, and common stock of $210,000. Safin Co. paid $25,000 in dividends during 2018 and no additional common stock wasissued. Required: Determine the retained earnings at 12/31/18. d. Assets Liabilities Common stock Retained Earnings 12/31/18 $102,000 52,000 15,000 35,000 12/31/17 $ 88,000 55,000 15,000 18,000 During 2018, Magnus Norman Corp. had utility expense $5,700, salary expense $38,700,miscellaneous expense $2,200, income tax expense $4,500, and dividends of $8,000. Required: Determine total revenues for 2018. b. 1/1/18 Assets $260,000 12/31/18 $195,000 Liabilities 125,000 45,000 Common stock 60,000 ? Retained earnings 75,000 ? During the year Blake Co. had expenses of $55,000, paid dividends of $11,500 and common stockincreased by $10,000. Required: Determine retained earnings at 12/31/18 and revenues for the year. c. During the year 2018 Safin Co. had revenues of $230,000 and expenses of $190,000. At12/31/17 the company had assets of $350,000, liabilities of $80,000, and common stock of $210,000. Safin Co. paid $25,000 in dividends during 2018 and no additional common stock wasissued. Required: Determine the retained earnings at 12/31/18. d. Assets Liabilities Common stock Retained Earnings 12/31/18 $102,000 52,000 15,000 35,000 12/31/17 $ 88,000 55,000 15,000 18,000 During 2018, Magnus Norman Corp. had utility expense $5,700, salary expense $38,700,miscellaneous expense $2,200, income tax expense $4,500, and dividends of $8,000. Required: Determine total revenues for 2018.