Atlantic Corporation Reported the Following Amounts at the End of the First

question 92

Multiple Choice

Atlantic Corporation reported the following amounts at the end of the first year of operations:
Contributed capital $200,000; sales revenue $800,000; total assets $600,000; dividends declared $40,000; and total liabilities $320,000.What are Atlantics' retained earnings at the end of the year and how much expenses were incurred during the year?

• A)Retained earnings are $80,000 and expenses incurred totaled $680,000.
• B)Retained earnings are $80,000 and expenses incurred totaled $720,000.
• C)Retained earnings are $280,000 and expenses incurred totaled $480,000.
• D)Retained earnings are $280,000 and expenses incurred totaled $520,000.

---

Definitions:

Positive Emotions

Feelings that are enjoyable and uplifting, such as joy, happiness, and love, contributing to well-being and satisfaction.

Anxiety

A feeling of worry, nervousness, or unease, often about an imminent event or something with an uncertain outcome.

Hunger

Hunger refers to the physical sensation or condition that arises from the need for food, driving individuals to seek and consume sustenance.

Positive Emotions

Feelings or emotions that inspire well-being, happiness, and satisfaction, contributing to positive mental health and overall life satisfaction.