Moore Industries Began Operations on January 2, 2016, with an Investment

question 224

Multiple Choice

Moore Industries began operations on January 2, 2016, with an investment of $50,000 by each of its two stockholders.Net income for its first year of business was $240,000.Moore Industries paid a total of $100,000 in dividends to its stockholders during the year.
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-Read the information about Moore Industries.If the company's revenues were $500,000 for the year ended December 31, 2016, how much were total expenses?

• A) $160,000
• B) $260,000
• C) $640,000
• D) $740,000