Retained earnings at the beginning and end of the accounting period were $950 and $2,000, respectively. Revenues of $3,700 and dividends paid to stockholders of $850 were reported during the period. What was the amount of expenses reported for the period?
Income statement of a business
There are a few statements that a business organization publishes in a financial year. These statements include a balance sheet, income or Profit and Loss statements, and a cash flow statement.
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from Accounting 101: Financial AccountingChapter 2 / Lesson 2