Question
Lorenta Company has provided the following data (ignore income taxes): 2019 revenues were $103,900. 2019 expenses were $48,900. Dividends declared and paid during 2019 totaled
Lorenta Company has provided the following data (ignore income taxes):
2019 revenues were $103,900.
2019 expenses were $48,900.
Dividends declared and paid during 2019 totaled $8,000.
Total assets at December 31, 2019 were $188,000.
Total liabilities at December 31, 2019 were $111,000.
Common stock at December 31, 2019 was $30,000.
Which of the following is not correct?
Multiple Choice
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Total liabilities and stockholders' equity at December 31, 2019 was $188,000.
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Total stockholders' equity at December 31, 2019 was $77,000.
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2019 net income was $55,000.
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Retained earnings on December 31, 2019 were $188,000.
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Cloud Security Auditing
Authors: Suryadipta Majumdar, Taous Madi, Yushun Wang, Azadeh Tabiban, Momen Oqaily, Amir Alimohammadifar, Yosr Jarraya, Makan Pourzandi, Lingyu Wang, Mourad Debbabi
1st Edition
3030231305, 978-3030231309
