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Explanations help Alexa Company was started in Year 1. At the end of Year 1 the Company's had the following accounting equation. Assets Liabilities +
Explanations help
Alexa Company was started in Year 1. At the end of Year 1 the Company's had the following accounting equation. Assets Liabilities + Stockholders' Equity Cash + Land Notes Payable + Common Stock + Retained Earnings 700 + 2,100 = 1,000 + 1,200 + 600 During Year 2, the company experienced the following accounting events. Paid off $520 of its note payable. Earned $2,110 of cash revenue. Paid $1,595 of cash expenses. Paid a $365 cash dividend. Based on this information alone, Based on this information alone, what percent of the company's assets at the end of Year 2 were provided by earnings ? % Answer as a percentage. For example, if you answer is .1, answer as 10 (for 10%) Little Grey Company earns $5,119 of revenue on account in Year 1. Cash collections of receivables amount to $3,602 in Year 1 with the remainder being collected in Year 2. Based on this information alone the company's financial statements would show Cash inflow from operating activities in year 1 of $Step by Step Solution
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