Question 15 Gryffindor Company began the year with retained of 300.000 Dec $500.000, expenses of $350,000, and paid dividends of $40.000 Watt year $840000 $500.000 $460.000 $540,000 Question 16 3.25 pts If a company buys a $700 machine on account, this transaction will affect the income statement and retained earnings statement only. income statement only. income statement, retained earnings statement, and balance sheet. balance sheet only