Indicate whether the following statements about the balance sheet of a corporation are true or false:

(a) Assets list all the valuable things owned by the entity ............................ [T / F]

(b) The amount reported for the paid-in-capital item is approximately the fair value of the stock ........................................ [T / F]

(c) The amount reported for total equity is approximately the fair value of the corporation’s stock .................. [T / F]

(d) Total equities (also called “net worth”) show approximately what the entity is worth .............................................. [T / F]

(e) Retained earnings is the amount of cash retained in the entity .............. [T / F]