BE 201Use the Following Information to Calculate for the Year

question 38

Short Answer

BE 201Use the following information to calculate for the year ended December 31, 2018 (a) net income, (b) ending retained earnings, and (c) total assets. $$\begin{array} { l r l r } \text { Supplies } & \$ 3,000 & \text { Revenues } & \$ 25,000 \\\text { Operating expenses } & 12,000 & \text { Cash } & 15,000 \\\text { Accounts payable } & 9,000 & \text { Dividends } & 1,000 \\\text { Accounts receivable } & 3,000 & \text { Notes payable } & 1,000 \\\text { Beginning retained earnings } & 5,000 & \text { Equipment } & 6,000\end{array}$$

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Definitions:

Hypothalamus

A region of the brain responsible for the production of many of the body's essential hormones, influencing hunger, thirst, sleep, and mood.

Limbic System

A complex system of nerves and networks in the brain, associated with emotions, memories, and arousal.

Hippocampus

A brain structure deeply involved in memory formation, particularly converting short-term memory to long-term memory, and spatial navigation.

New Memories

The formation of new associative connections in the brain, allowing for the storage and recall of new experiences or information.