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5. On Friday, September 28, 2018, the stock of General Electric (GE) closed at $11.29 per share. On Monday, October 1, 2018, before stocks began
5. On Friday, September 28, 2018, the stock of General Electric (GE) closed at $11.29 per share. On Monday, October 1, 2018, before stocks began trading. GE announced the appointment of H. Lawrence Culp, Jr. as Chairman and Chief Executive Officer (CEO). Mr. Culp, the former CEO of Danaher Corporation, replaced John Flannery, who was appointed to these positions at GE on August 1, 2017. Following the news about Mr. Culp, GE's stock opened at $13.02 - an increase of 15% over the closing price the previous trading day. When GE presented its next Balance Sheet, was Mr. Culp listed as an "Asset"? Why or why not? (5 points)
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