1. How much would the retained earnings be for the year 2020? *

A) $2,200,000

B) $1,900,000

C) $2,500,000

D) $5,000,000

E) None of the above

2. After preparing the balance sheet of Spring Fields Inc., How much could the total stock holder's equity be at the end of the year 2020? *

A) $2,100,000

B) $2,500,000

C) $5,000,000

D) $1,900,000

E) None of the above

Problem 4: Shugun Inc. has the following account information for the year 2020. Common Stock Account Payable Additional Paid-In-Capital Cash Equipment Deferred Tax Liability Retained Earnings Accumulated Depreciation Accounts Receivable Mortgage Payable Inventory $100,000 $1,100,000 100,000 $800,000 $4,000,000 400,000 ?? -2,700,000 1,200,000 $1,700,000 2,000,000