If a company reports retained earnings of $121.3 million on its balance sheet, it will also report $121.3 million in cash. T or F

Foreign companies using international accounting standards must reconcile their financial statements to American rules if they wish to sell securities in the U.S.

T or F

Assets must always equal liabilities plus stockholders' equity. T or F

Retained earnings are present on both the income statement and the statement of stockholders' equity. T or F