Expenses incurred and retained earnings relationships

Reference no: EM1319613

Assume that retained earnings increased by $240,000 from December 31, 2005, to December 31, 2006, for Miller Corporation. During the year, a cash dividend of $140,000 was paid.

Compute the net income for the year.

Assume that the revenues for the year were $920,000. Compute the expenses incurred for the year.

Reference no: EM1319613

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