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Calculate the amount of common stock at december

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Reference no: EM132835707

The following information is provided for Elephant Company:

Revenues for 2024 .......................................... $350

Net income for 2024 ....................................... 110

Retained earnings at January 1, 2024 .................... 140

Retained earnings at December 31, 2024 ............... 200

Total liabilities & equity at December 31, 2024 ....... 600

Total liabilities at January 1, 2024 ....................... 60

Total liabilities at December 31, 2024 .................. 50

REQUIRED:

Problem (1) Calculate Elephant Company's total expenses for 2024.

Problem (2) Calculate the amount of dividends declared during 2024.

Problem (3) Calculate the amount of Common Stock at December 31, 2024.

Problem (4) Calculate the total assets at January 1, 2024.

Reference no: EM132835707

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