multiple choice #6

5. The financial statement that reports assets, liabilities and owner's equity is: a. Income statement b. Owner's equity statement Balance sheet d. Statement of Cash flows e. None of the above. 6. As of December 31, 2019 Kenwood Company had assets of $3,500; owner's equity of $2,000. How much was the liability of the company? a. $1,500 b. $1,000 c. $5,500 d. $3,500 e. None of the above