Compute the total net revenue

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Question - Income Statement Items

Presented below are certain account balances of Paczki Products Co.

Rental revenue

$6,770


Sales discounts

$7,950

Interest expense

12,970


Selling expenses

99,740

Beginning retained earnings

114,580


Sales

391,120

Ending retained earnings

134,250


Income tax

31,350

Dividend revenue

72,710


Cost of goods sold

185,950

Sales returns

12,770


Administrative expenses

83,310

From the foregoing, compute the following in a periodic inventory environment: (a) total net revenue, (b) net income, (c) dividends declared during the current year.

(a) Total net revenue

(b) Net income

(c) Dividends declared

Reference no: EM131790445

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