Alexis Company was started in Year 1. At the end of Year 1 the Company had the following accounting equation Assets = Liabilities - Stockholders' Equity Cash - Land = Notes Payable + Common Stock Retained Earnings 600 + 2,200 1,800 1,400 400 if at the end of Year 1 an appraiser provides a certified opinion that the market value of the land is $2.800 the company would continue to list the land on its books at $2.200. This statement is True or False True False