Question
Lena Company has provided the following data for its 2019 operations (ignore income taxes): 2019 revenues were $75,000. 2019 expenses were $48,400. Dividends declared and
Lena Company has provided the following data for its 2019 operations (ignore income taxes):
2019 revenues were $75,000.
2019 expenses were $48,400.
Dividends declared and paid during 2019 totaled $7,500.
Total assets at December 31, 2019 were $183,000.
Total liabilities at December 31, 2019 were $101,000.
Common stock at December 31, 2019 was $25,000.
Which of the following is correct?
Multiple Choice
A)2019 net income was $19,100.
B)Total stockholders' equity at December 31, 2019 was $242,000.
C)Retained earnings at December 31, 2019 were $57,000.
D)Retained earnings at December 31, 2019 were $19,100.
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