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Golden Enterprises started the year with the following: Assets $50,000; Liabilities $15,000: Common Stock $30,000,...

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Accounting

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Golden Enterprises started the year with the following: Assets $50,000; Liabilities $15,000: Common Stock $30,000, Retained Earnings $5,000. During the year, the company eamed revenue of $2,500, all of which was received in cash, and incurred expenses of $1,500, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $500 to owners. Assume no other activities occurred during the year The amount of Golden's retained earnings at the end of the year is: The amount of Golden's retained earnings at the end of the year is: Multiple Choice o $7,500. o $500. o $6,000. o $5,500

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