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Driftwood Investments provides financial services related to investment selections, retirement planning, and general insurance needs. At the end of the year on December 31, 2024,
Driftwood Investments provides financial services related to investment selections, retirement planning, and general insurance needs. At the end of the year on December 31, 2024, the company reports the following amounts: Advertising expense $32,300 Service revenue $121,600 Buildings 138,000 Interest expense 2,300 Salaries expense 63,900 Utilities expense 14,300 Accounts payable 5,200 Equipment 21,000 Cash 4,300 Notes payable 24,000 In addition, the company had common stock of $100,000 at the beginning of the year and issued an additional $10,000 during the year. The company also had retained earnings of $19,300 at the beginning of the year and paid dividends of $4,000
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