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Items from the 2013 income statement, statement of retained earnings, and balance sheet of Electronic Works, Inc., are listed below in alphabetical order. Solve for the missing amounts. (Loss amounts should be indicated with a minus sign.) Is the company profitable? Yes No
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Question & Answer: Items from the 2013 income statement, statement of retained earnings, and balance sheet of Electronic Works, Inc., are…..
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| Retained eranings, Beginning of Year | -50 |
| Add net Income (2380+50) | 2430 |
| Less: dividend | 0 |
| Retained eranings, Ending of Year | 2380 |
| Total revenue | $4,100 |
| Less: total expenses (4100-2430) | $1,670 |
| Net Income | 2430 |
| ans 1 | |
| Net Income | 2430 |
| Total expenses | $1,670 |
| Ans 2 | |
| Yes, as the net income is $2430 |
