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The year-end financial statements of Grunewald Company contained the following elements and corresponding amounts. Assets = $22,000; Common Stock = $5,000; Revenue = $11,000; Dividends

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The year-end financial statements of Grunewald Company contained the following elements and corresponding amounts. Assets = $22,000; Common Stock = $5,000; Revenue = $11,000; Dividends = $750; Beginning Retained Earnings = $3,750; Ending Retained Earnings = $6,000. Based on this information, the amount of expenses on Grunewald's income statement was a. $8,000. b. $5,000. A c. $8,750. d. $4,250

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