3 3) Carrying value is constant during an asset's useful life. 4) Depreciation expense equals the depreciable cost divided by an asset's useful life. 6 Question 17 (1.5 points) 9 12. On January 1, 2019, Joan Co. started the year with a balance of $246,000 in Retained Earnings and a balance of $302,500 in Share Capital. During 2019, the company earned net income of $46,000, paid a cash dividend of $7,600, and issued additional shares for $13,750. What is total shareholders' equity on December 31, 2019? 15 1) $600,650.00 18 2) $794,150.00 21 3) $615,850.00 4) $548,500.00 3 24 Question 18 (1 point) Saved 3 27 Laura Co. started the year with total assets of $120,000 and total liabilities of $75,000. During the year, the business recorded $82,000 in service revenues, $45,000 in expenses, and paid dividends of $5,000. Shareholders' equity at the end 9 30