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12 The basic financial statements include the O a. bank reconciliation statement O b. trial balance Oc. ledger account Od. balance sheet QUESTION 13 Johnson,

12 The basic financial statements include the O a. bank reconciliation statement O b. trial balance Oc. ledger account Od. balance sheet QUESTION 13 Johnson, Inc., issued $15,000 in common stock in exchange for cash. What is the effect of this transaction? Oa. Cash flow from Financing Activities will increase b. Total assets remain unchanged. Oc. Total Retained Earnings will increase d. Net Income will increase

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