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Carney Corporation issued 90,000 shares of $1.00 par value common stock at a price of $5.00 per share. Total revenue this year was $170,000 with

Carney Corporation issued 90,000 shares of $1.00 par value common stock at a price of
$5.00 per share. Total revenue this year was $170,000 with $10,000 received in cash, and the rest on account.
The expenses for the year were $120,000 with $75,000 paid in cash, and the rest on account.
ASSETS LIABILITIES
CASH ACCOUNTS PAYABLE
ACCOUNTS RECEIVABLE
STOCKHOLDERS' EQUITY
COMMON STOCK
PAID IN CAPITAL IN EXCESS OF PAR
TOTAL PAID IN CAPITAL
RETAINED EARNINGS
TOTAL STOCKHOLDERS' EQUITY
TOTAL ASSETS TOTAL LIABILITIES & STOCKHOLDERS' EQUITY
A=L+OE? YES

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