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Cova Ltd. earned revenues of $37 million during 2017 and ended the year with net income of $5 million. During 2017, Cova Lid. collected $34 million from customers and paid cash for all of its expenses plus an additional $2 million for amounts payable. Answer these questions about Cova's operating results, financial position, and cash flows during 2017
Requirement
Question 1. How much were the company's total expenses? Show your work. (Use parentheses or a minus sign when subtracting numbers.)
Question 2. Calculate Cova's total expenses for 2017.
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