E-Complete the following applications. 1-A Corporation has the following information at the end of its fiscal year, December 31: Revenues = $10,000,000 Operating Expenses = $75,000,000 Dividends = $250,000 Record the Closing Entries. Include Descriptions. 2- Calculate the Return on Equity using the following information: Beginning Shareholders' Equity = $132,495 Net Revenue = 206,674 Net Income = $8,097 Ending Shareholders' Equity = $121,784 3-After selling the Assets and paying the Creditors, a Partnership had $90,000 Cash remaining Partners A, B and C had Capital balances of $20,000, $30,000, and $40,000 respectively Income is shared on a ratio of 1:3.5, respectively. How much Cash would Partner C receive? A = 10 A = 3 A=1