For Questions 41-50, review the below information, prepare an Income Statement, Statement of Retained Earnings, and a Balance Sheet, and answer questions posed. On March 1, 2019, Bern Madeoff organized You Can Trust Me Tax Financial Solutions, Inc., a new firm. On March 31, 2019, the companys records showed the following items and amounts: Cash $ 10,000 Cash Dividends $ 4,360 Accounts Receivable 6,000 Consulting Fees Earned 15,000 Courier Expense 1,000 Office Supplies 4,250 Rent Expense 2,550 Land 50,000 Salaries Expense 5,000 Office Equipment 14,000 Telephone Expense 660 Accounts Payable 3,500 Advertising Expense 680 Common Stock 80,000 Retained Earnings, March 1 0 NOTES: Beginning balance, March 1, 2019, Common Stock was $0. Bern owns 70% of the stock in You Can Trust Me Tax Financial Solutions, Inc. Bern stated that his personally owned car should be part of the business, The car has a Fair Market Value of $25,000 Bern owes $8,000 to the IRS for his personal taxes from last year. He is on an installment agreement and is paying $450 a month to extinguish this liability

Question 1 How much in expenses are reported on the Income Statement? Group of answer choices A) $5110 B) $9890 C) $6,000

questions #2 How much in Dividends are paid to shareholders? A)3052 B)4360 C) 5110

question #3 What is the Change in Retained Earnings?

$5110

$750

4360