Question
Here is selected information from the 12/31/X7 Trial Balance and Balance Sheet for Tang Services, Inc.: Unadjusted Balances From Adjusted Trial Balance Cash $10,500 $10,500
Here is selected information from the 12/31/X7 Trial Balance and Balance Sheet for Tang Services, Inc.:
| Unadjusted Balances | From Adjusted Trial Balance |
Cash | $10,500 | $10,500 |
Accounts receivable | 6,000 | 6,450 |
Prepaid rent | 1,700 | 1,370 |
Accounts payable | 6,800 | 6,800 |
Common stock | 12,000 | 12,000 |
Retained earnings | 5,600 | ?? |
Service revenue | 6,700 |
|
Rent expense | 800 |
|
Dividends | 500 |
|
For this question only, assume that net income had totaled $6,000 for the year ended 12/31/x7. What amount of total stockholders' equity would appear on the 12/31/x7 balance sheet?
$23,100
$11,100
$17,100
$17,600
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