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  1. business
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  3. pelican, inc. had revenues of $395,000, expenses o

Pelican, Inc. had revenues of $395,000, expenses of $155,000, and dividends of $54,000 during the...

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Accounting

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Pelican, Inc. had revenues of $395,000, expenses of $155,000, and dividends of $54,000 during the current year. Based on the given information, which of the following statements is true? a. Net income for the current year totaled $186,000. b. Total retained earnings decreased by $186,000 during the current year. c. Net income for the current year totaled $240,000. d. Total retained earnings increased by $240,000 during the current year. During 2016, Banigo Corporation experienced an increase in total assets of $72,600 and an increase in total liabilities of $40,900. Assuming that capital stock increased by $5,000 and no dividends were paid, calculate Banigo's net income or net loss for 2016. a. Net income of $67,600 b. Net income of $26,700 c. Net loss of $31,700 d. Net loss of $45,900

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