Question: Using the table below, determine the revenues for the year ending on December 31, 2016? TOTALS Jan. 1, 2016 Dec. 31, 2016 Current assets $

Using the table below, determine the revenues for the year ending on December 31, 2016?

TOTALS

Jan. 1, 2016

Dec. 31, 2016

Current assets

$ 10,000

$ 20,000

All other assets

300,000

300,000

Liabilities

50,000

60,000

Common stock

100,000

130,000

Retained earnings

160,000

?

Additional data: Total expenses for the year were $70,000; Dividends paid during the year were $16,000.

what is the right answer?

A. $44,000

B. $74,000

C. $56,000

D. $32,000

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