The income statement for the month of June, 2021 of Coronado Enterprises contains the following information:Revenues  $6820Expenses:           Salaries and Wages Expense$2890          Rent Expense1490          Advertising Expense730          Supplies Expense310          Insurance Expense90                  Total expenses  5510Net income  $1310The entry to close Income Summary to Retained Earnings includesSelect answer from the options belowcredits to Expenses totalling $5510.a credit to Income Summary for $1310.a credit to Retained Earnings for $1310.a debit to Revenues for $6820.

Revenue K98,200; Food and drinks K25,000; Salaries & Wages K14,000; Advertising K6,000; Miscellaneous K200; Unearned Rent K4,000; Prepaid expenses K500; Water and power bills K 8,000 and Accrued expenses K9,000. Use this information to create a income statement

Journal Entries and LedgersDuring the current financial period, the following transactions took place for Corona Ltd:1. Received cash amounting to $31,500 from customers. 2. Additional cash contribution from shareholders amounting to $265,000.            3. Purchased inventory amounting to $26,800 in cash.    4. Sold goods on credit totalling $78,500. The original cost of the goods sold is $44,500.5. Repaid loan $82,400 to the bank.The following opening balances existed before the above transactions took place:Account nameOpening balanceCash$448,000Inventory$201,000Accounts receivable $81,000Loan payable$340,000Share capital$390,000Required:(a) Record the effect of the above transactions in the journal entries below.

Following is a list of financial statement items and amounts for Vantage Service as of 12/31/Year 1, the end of its first year in operation. Accounts Receivable $ 40,000Accounts Payable 30,000Cash 10,000Common Stock 20,000Notes Payable 10,000Equipment 50,000Sales Revenue 100,000Fuel Expense 10,000Rent Expense 15,000Advertising Expense 5,000Salaries and Wages Expense 20,000Retained Earnings ?Dividends 10,000 Required:Prepare the income statement for the year ended December 31, Year 1.Prepare the statement of retained earnings for the year ended December 31, Year 1.Prepare the balance sheet for the year ended December 31, Year 1.

The following information was available for the year ended December 31, 2022:Earnings before interest and taxes (operating income) $ 50,000Interest expense 10,000Income tax expense 12,000Net income 28,000Total assets at year-end 200,000Total liabilities at year-end 120,000The debt ratio at December 31, 2022 was:

Use the following information to answer this question. Windswept, Incorporated2017 Income Statement($ in millions)Net sales $ 11,000Cost of goods sold 8,200Depreciation 395Earnings before interest and taxes $ 2,405Interest paid 110Taxable income $ 2,295Taxes 689Net income $ 1,606 Windswept, Incorporated2016 and 2017 Balance Sheets($ in millions)  2016 2017   2016 2017Cash $ 420 $ 445 Accounts payable $ 2,060 $ 2,005Accounts receivable 1,210 1,110 Long-term debt 1,120 1,580Inventory 1,980 1,820 Common stock 3,460 3,190Total $ 3,610 $ 3,375 Retained earnings 700 950Net fixed assets 3,730 4,350      Total assets $ 7,340 $ 7,725 Total liability & equity $ 7,340 $ 7,725What were the total dividends paid for 2017?