Question
5. On which two financial statements would you look to find the total costs of merchandise that remains and the total that has been sold?
5. On which two financial statements would you look to find the total costs of merchandise that remains and the total that has been sold?
| Balance sheet and statement of cash flows |
| Statement of cash flows and balance sheet |
| Balance sheet and income statement |
| Statement of stockholders' equity and balance sheet |
6. Ivey Company began operations on January 1, 2016, with an investment of $248,000 by each of its two stockholders (total amount invested $496,000). Net income for its first year of business was $872,000. During the year, the company paid dividends of $120,000 to each of the two stockholders.
How much is the company's ending Stockholders' Equity on December 31, 2016?
| $1,112,000 |
| $992,000 |
| $1,128,000 |
| $964,000 |
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