6. Which of the following financial statements is concerned with the company at a point in time? a. Balance sheet b. Income statement C. Retained earnings statement d. Statement of cash flows 7. Henson Company began the year with retained earnings of $330,000. During the year, the company recorded revenues of $500,000, expenses of $380,000, and paid dividends of $40,000. What was Henson's retained earnings at the end of the year? a. $490,000 b. $410,000 c. $790,000 d. $450,000 8. Which of the following is not a satisfactory statement of the accounting equation? a. Assets = Stockholders' Equity - Liabilities b. Assets = Liabilities + Stockholders' Equity C. Assets - Liabilities = Stockholders' Equity d. Assets - Stockholders' Equity = Liabilities 9. The left side of an account is a. blank b. a description of the account. c. the debit side. d. the balance of the account. 10. A debit to an asset account indicates an) a error b. credit was made to a liability account. c. decrease in the asset. d increase in the asset