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custom farm labor company engaged in the following transactions during...

Question: custom farm labor company engaged in the following transactions during...

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Custom Farm Labor Company engaged in the following transactions during 2017, its first year in operations: (Assume all transactions are cash transactions). They acquired $950 cash from the issue of common stock. They also borrowed $420 from a bank. They earned $600 of revenues while paying expenses of $250 as well as paying a $50 dividend. During 2018, Custom Farm Labor engaged in the following transactions: (Assume all transactions are cash transactions). They issued an additional $325 of common stock while repaying $220 of its debt to the bank. They earned revenues of $750 while incurring expenses of $360. Lastly, they paid dividends of $100. The amount of assets on Custom Farm Labors 2018 balance sheet is? Round to the nearest whole number Selected Answer: $615

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