QUESTIONS 45 THROUGH 68 RELATE TO FINANCIAL STATEMENT ANALYSIS

58.

The following information is available about a company:

Contributed capital, beginning of the year

$ 50,000

Retained earnings, beginning of the year

225,000

Sales revenues earned during the year

450,000

Investment income earned during the year

5,000

Total expenses paid during the year

402,000

Dividends paid during the year

10,000

Total assets, end of the year

800,000

Total liabilities at the end of the year are closest to:

A. $472,000.

B. $482,000.

C. $487,000.