At the beginning of 2020, a corporation had assets of $270,000 and liabilities of $160,000. During 2020, assets increased $25,000 and liabilities increased $5,000. What was stockholders' equity on December 31, 2020? Multiple Choice $140,000. $130,000. $190,000. $80,000. Revenue may be recognized: Multiple Choice Before goods are delivered After goods are delivered When goods are delivered Either before goods are delivered, after goods are delivered, or when goods are delivered. A company's retained earnings increased $19,000 during the current year. What was the company's current year net income or loss given that the company declared $36,000 of dividends during this year? Multiple Choice Net income was $17,000. Net income was $55,000. Net loss was $55,000. Net loss was $17,000. How much were the company's total expenses in calculating operating income? Multiple Choice $70,400 $49,600 $63,000 $65,800 Which of the following reflects the impact of a transaction where $390,000 cash was invested by stockholders in exchange for stock? Multiple Choice Stockholders' equity and revenues each increased $390,000. Assets and revenues each increased $390,000. Assets and retained earnings each increased $390,000. Stockholders' equity and assets each increased $390,000. A company purchases a delivery van by paying $8,000 cash and by signing a $28,000 note payable. Which of the following correctly describes the recording of the delivery van purchase? Multiple Choice Cash is debited for $8,000. The delivery van account is debited for $36,000. The delivery van account is debited for $28,000. Notes payable is debited for $28,000