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  3. thessalon coat january 1, 2019 had retained earnin

Thessalon Coat January 1, 2019 had retained earnings of $600,000 and $50,000 in cash In...

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Accounting

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Thessalon Coat January 1, 2019 had retained earnings of $600,000 and $50,000 in cash In the year 2019 it made a net income of $400,000 recorded an amortization expense of $250,000; Issued additional common shares for $600,000 and borrowed $600,000 from the Bank of Ontario; bought new plant and equipment at a cost of $1,200,000 and sold some unused land for $400,000. For the 2019 year the company's Cash Reserves increased by Select one O a $1,050,000 O b. 51,500,000 O c $1,100,000 O d. 51,105,000 Thessalon Co. at January 1, 2019 had retained earnings of $600,000 and $50,000 in cash in its bank account In the year 2019 it made a net income of $400,000; recorded an amortization expense of $250,000, issued additional common shares for $600,000 and borrowed $600,000 from the Bank of Ontario, bought new plant and equipment at a cost of $1,200,000 and sold some unused land for $400,000. At the end of 2019, the Company's bank balance would be Select one O a $1,050,000 Ob: $1,500,000 $950,000 d. 51.250,000

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