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Point 1: At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $375,000 and Total Liabilities of $29,000 and Total Paid-in capital of $116,000. During the year, the company reported total revenues of $446,000 and expenses of $345,000. Also, dividends during the year totaled $88,000. Assuming no other changes to Retained earnings, the balance in the Retained earnings account at the end of the year would be:
Multiple Choice
Option 1: $382,000.
Option 2: $328,000.
Option 3: $237,000.
Option 4: $240,000.
Option 5: $243,000.
Financial Statement Analysis and Preparation
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