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4. Carlow Company's year-end financial statements contained the following elements and corresponding amounts (Note! Some items may not include in calculation) =$50,000 (Balance sheet account)

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4. Carlow Company's year-end financial statements contained the following elements and corresponding amounts (Note! Some items may not include in calculation) =$50,000 (Balance sheet account) (Balance sheet account) (Balance sheet account) = $15,000 Revenue.... $22,000 (Income statement account) Ending Retained Earnings$7,500. (Balance sheet account) The amount of liabilities reported on the end-of-period balance sheet was: a. $27,500. b. $31,500. c. $35,000. d. $42,500

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