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Total assets, end of year $190,000 Total liabilities, end of year 88,000 Contributed capital, end of year 20,000 Retained earnings, beginning of year 65,000 Dividends

Total assets, end of year $190,000

Total liabilities, end of year 88,000

Contributed capital, end of year 20,000

Retained earnings, beginning of year 65,000

Dividends for the period 15,000

Net income 32,000

Retained earnings 82,000

QUESTION: If revenue amounts to $200,000, how much is total expenses?

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