On its 2016 balance sheet, sherman books showed a balance of retained earnings equal to $510 million. on its 2017 balance sheet, the balance of retained earnings was also equal to $510 million. which of the following statements is most correct? select one: a. the company must have had net income equal to zero in 2017. b. the company did not pay a dividend in 2017. c. if the company’s net income in 2017 was $200 million, dividends paid must have also equaled $200 million. d. if the company lost money in 2017, they must have paid a dividend. e. none of the statements above is correct.

Lavage rapide is a canadian company that owns and operates a large automatic car wash facility near montreal. the following table provides data concerning the company’s costs: fixed cost per month cost per car washed cleaning supplies $ 0.70 electricity $ 1,400 $ 0.07 maintenance $ 0.15 wages and salaries $ 4,900 $ 0.30 depreciation $ 8,300 rent $ 1,900 administrative expenses $ 1,400 $ 0.03 for example, electricity costs are $1,400 per month plus $0.07 per car washed. the company expects to wash 8,000 cars in august and to collect an average of $6.50 per car washed. the actual operating results for august appear below. lavage rapide income statement for the month ended august 31 actual cars washed 8,100 revenue $ 54,100 expenses: cleaning supplies 6,100 electricity 1,930 maintenance 1,440 wages and salaries 7,660 depreciation 8,300 rent 2,100 administrative expenses 1,540 total expense 29,070 net operating income $ 25,030 required: calculate the company's revenue and spending variances for august.