Answer only Transcribed Image Text: 10
Required Infor
[The following information applies to the questions displayed below.]
The financial statements of Calloway. Company prepared at the end of the current year contained the following elements
and corresponding amounts: Assets = $22,000; Liabilities = ?; Common Stock = $5,200; Revenue = $11,400; Dividends =
$850; Beginning Retained Earnings = $3,850; Ending Retained Earnings – $7,200.
Part 1 of 2
Based on this information, what was the amount of expenses reported on Calloway’s Income statement for the current year?
Multiple Choice
$14,400.
$7.200.
$3,350.
$8,050.
Mc
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