Multiple Choice Question 119 Pharoah Company began the year with retained earnings of $403000. During the year, the company recorded revenues of $503000, expenses of $382000, and paid dividends of $42500. What was Pharoah's retained earnings balance at the end of the year? O $481500 $845500 $545500 $503000 Click if you would like to Show Work for this question Open Show Work Multiple Choice Question 121 Concord Corporation began the year with retained earnings of $104000. During 2022, the company issued $77500 of common stock for cash. The company recorded revenues of $782000, expenses of $665000, and paid dividends of $44000. What was Concord's net income for the year 20227 O $150500 O $194500 O $73000 $117000 Click if you would like to Show Work for this questions Open Show Work