Did the company generate more revenue from selling goods

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Three individuals organized Pest Away Corporation on January 1 to provide insect extermination services. The company paid dividends of $ 10,000 during the year. At the end of the first year of operations, the following income statement was prepared:

Required:

1. Did the company generate more revenue from selling goods or providing services to customers?

2. If salaries and wages were to double, how much net income would the company report?

3. If the company paid $ 20,000 for advertising during the current year, what amount is owed at the end of the year? In what account would the amount still owing be reported?

4. Would the $ 10,000 of dividends be reported on the balance sheet or statement of retained earnings?

Reference no: EM13881351

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