Use the information below for the next two questions

Retained Earnings at 1/1/2013

1,000,000

Retained Earnings at 12/31/2013 (after dividends)

??

Dividends for the year ended 12/31/2013

200,000

Contributed capital

2,000,000

Total Assets as at 12/31/2013

5,000,000

Total Liabilities as at 12/31/2013

2,300,000

Total Revenue for the year ended 12/31/2013

1,400,000

Total Expenses for the year ended 12/31/2013

??

1.Retained earnings at 12/31/2013 (after paying out dividends for the year ended 12/31/2013) are (Hint: first, compute stock holders equity)

A.700,000 B.800,000 C. 500,000 D. 600,000

2

2.Total Expenses for the year ended 12/31/2013 are (Hint: first compute net income)

A.500,000 B.1,500,000 C. 1,000,000 D. 1,300,000