As of December 31, 2021, the Covid Company's assets totaled $200,000 and its liabilities totaled...
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As of December 31, 2021, the Covid Company's assets totaled $200,000 and its liabilities totaled $80,000. As of December 31, 2022, the Company had assets totaling $250,000 and liabilities totaling $100,000. During the year 2022, there were no transactions affecting contributed capital (capital stock) accounts. The net income for the year 2022 was $40,000. What was the amount of cash dividends declared and paid in 2022? A) $10,000 B $20,000 D $30,000 $40,000 please answer ASAP, thank you!!!
As of December 31, 2021, the Covid Company's assets totaled $200,000 and its liabilities totaled $80,000. As of December 31, 2022, the Company had assets totaling $250,000 and liabilities totaling $100,000. During the year 2022, there were no transactions affecting contributed capital (capital stock) accounts. The net income for the year 2022 was $40,000. What was the amount of cash dividends declared and paid in 2022? A) $10,000 B $20,000 D $30,000 $40,000
please answer ASAP, thank you!!!
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