Nelson Company experienced the following transactions during Year 1, its first year in operation. ...
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Accounting
Nelson Company experienced the following transactions during Year 1, its first year in operation.
- Acquired $8,800 cash by issuing common stock.
- Provided $5,100 of services on account.
- Paid $2,300 cash for operating expenses.
- Collected $3,300 of cash from customers in partial settlement of its accounts receivable.
- Paid a $240 cash dividend to stockholders.
What is the balance of the retained earnings that will be reported on the balance sheet as of December 31, Year 1?
Multiple Choice
-
$2,560.
-
$2,800.
-
$2,040.
-
$11,360.
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