# Accounting

During its first year of operations, Maria Rose set up Roseland Inc. and invested \$25,000 in the corporation. The company earned \$68,000 of revenues and incurred \$32,000 of expenses. At the end of the year, the company owed \$24,000 to its creditors. A cash dividend of \$5,000 was paid to Maria. At the end of the year, the company's assets totaled:

1. 5000

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