1. Which of the following statements is correct? A. Assets on the balance sheet include retained earnings. B. Retained earnings include contributed capital. C. The balance sheet equation states that assets equal contributed capital. D. A corporation's net income does not necessarily equal its cash flow from operatic 2. Which of the following arithmetic formulas is the expanded accounting equation? A. Assets + Revenues-Expenses = Liabilities + Owner, capital-Owner, withdraw B. Assets Liabilities+ Owner, capital - Owner, withdrawals+ Revenues- Expens C. Assets + Liabilities + Owner, capital Owner, withdrawals+ Revenues - Expen D. Assets + Liabilities Owner, capital - Owner, withdrawals+ Revenues - Expens