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Three individuals organized Pest Away Corporation on January 1 to provide insect extermination services. The company paid dividends of $11,800 during the year. At the

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Three individuals organized Pest Away Corporation on January 1 to provide insect extermination services. The company paid dividends of $11,800 during the year. At the end of the first year of operations, the following income statement was prepared: Required: 1. Did the company generate more revenue from selling goods or providing services to customers? 2. If salaries and wages were to double, how much net income wofld the company report? 3-0. If the company paid $21,500 of its advertising expense during the current year, what amount is owed for advertising at the end of the year? 3-b. In what account would the amount still owing be reported? 4. Would the $11,800 of dividends be reported on the balance sheet or statement of retained earnings

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