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Berkshire Hathaway has provided the following data (ignore income taxes): Retained earnings at December 31, 2018 were $60,000. Dividends declared and paid during 2019 totaled
Berkshire Hathaway has provided the following data (ignore income taxes): Retained earnings at December 31, 2018 were $60,000. Dividends declared and paid during 2019 totaled $10,000. Total assets at December 31, 2019 were $400,000. Total liabilities at December 31, 2019 were $200,000. Common stock and Additional Paid-in Capital at December 31, 2019 were $50,000. Treasury stock at December 31, 2019: $0. Which of the following is not correct? Stockholders' equity at December 31, 2019 was $200,000. Retained Earnings changed by $90,000 in 2019. 2019 Net Income was $90,000. Retained Earnings at December 31, 2019 were $150,000
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