Lorenta Company has provided the following data (ignore income taxes): 2019 revenues were $117,300 2019 expenses were $47,800 Dividends declared and paid during 2019 totaled $9,500 Total assets at December 31, 2019 were $177,000 Total liabilities at December 31, 2019 were $89,000 Common stock at December 31,2019 was $28,000 Which of the following is not correct? (Chapter 1) 2019 net income was $69,500. Retained earnings on December 31, 2019 were $41,700. Total stockholders' equity at December 31, 2019 was \$88,000. Total liabilities and stockholders' equity at December 31, 2019 was $177,000