hit 1 Chapter 1 Quiz i 5 2 points Saved Help Save & Exit Submit TB MC Qu. 1-78 (Algo) The year-end financial statements of Calloway... The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets = $25,000; Liabilities = ?; Common Stock = $5,500; Revenue = $12,000; Dividends = $1,000; Beginning Retained Earnings = $4,000; Ending Retained Earnings = $7,500. Based on this information, the amount of expenses on Calloway's income statement was

TB MC Qu. 1.78 (Algo) The year-end financial statements of Calloway... The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets = $25,000; Liabilities = ?: Common Stock =$5,500, Revenue =$12,000;. Dividends =$1,000; Beginning Retained Earnings = $4,000; Ending Retained Earnings =$7,500 Based on this information, the amount of expenses on Calloway's income statement was The year-end financial statements of Calloway Company contained the following elements and corresponding amounts. Assets = $25,000; : Llabilities =?; Common Stock =$5,500; Revenue =$12,000; Dividends =$1,000; Beginning Retained Earnings = $4,000; Ending Retained Earnings =$7,500, Based on this information, the amount of expenses on Colloway's income statement was