Managers can choose the location of where to report a loss in the income statement, as long as the loss is reported and deducted in calculating net income. True or False True False Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: Accounts receivable Inventory Net sales Cost of goods sold Total assets Total stockholders' equity Net income 2021 2020 $ 40,000 $ 36,000 28,000 35,000 190,000 186,000 114,000 108,000 425,000 405,000 240,000 225,000 32,500 28,000 Stealth Company's 2021 return on equity is: (Round your answer to 1 decimal place.) Multiple Choice 7.1% 14.0%. 171% 12.6% The following amounts represent totals from the first three years of operations. Calculate the balance of Retained Earnings at the end of 2021 2019 2020 2021 Net Income (loss) $1,200 $(500) $2,300 Net Cash Flows $500 $ 300 $2,800 Dividends $ 200 $0 $ 200 Issuance of Stock $2,000 $ $ Multiple Choice $2,600 $3,500 $4,600 $3,100