Relationships between financial statement items. Use the following information for USA Movers Inc. for the year ended June 30, 2009, to answer the following questions Assume that the shareholders made no new contributions to the company during the year. (LO 3)
1. Revenues of the year ended June 30, 2009 = $350
2. Net income for the year ended June 30, 2009 : $l 10
3. Beginning balance (June 30, 2008, balance) in retained earnings : $140
4. Ending balance (June 30, 2009, balance) in retained earnings : $200
5. Total liabilities and shareholders” equity at June 30,2009 : $600
6. Total liabilities at June 30, 2008 : $60
7. Total liabilities at June 30. 2009 : $50
Required
a. What were the USA Movers” total expenses during the year ended June 30,2009?
b. What was the amount of the dividends declared during the year ended June 30, 2009?
c. What is the total that owners invested in the USA Movers as of June 30,2009?
d. What were total assets on the company”s June 30, 2008, balance sheet?
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