1/Gilkey Corporation began the year with retained earnings of $310,000. During the year, the company issued
$420,000 of common stock, recorded expenses of $1,200,000, and paid dividends of $80,000. If Gilkey’s ending retained earnings was $330,000, what was the company’s revenue for the year?
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2/A local retail shop has been operating as a sole proprietorship. The business is growing and now the owner wants to incorporate. Which of the following is not a reason for this owner to incorporate?
3/Kilmer Corporation began 2022 with total stockholder’s equity of $1,270,000, including retained earnings of $930,000. During the year, the company issued $1,260,000 of common stock, recorded expenses of $3,600,000, and paid dividends of $240,000. If Kilmer’s ending retained earnings was $990,000, what was the company’s revenue for 2022?