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On December 31, 2023, Oakcrest Company prepared an income statement and a balance sheet. In preparing the adjusting entries at year-end, Oakcrest failed to record

On December 31, 2023, Oakcrest Company prepared an income statement and a balance sheet. In preparing the adjusting entries at year-end, Oakcrest failed to record the adjusting entry for wages earned by employees, but not yet paid, amounting to $10,000 for the last two days of the year. The income statement reported net income of $104,000. The balance sheet reported total assets of $508,000, total liabilities of $340,000, and stockholders' equity of $168,000. What is the correct amount for Oakcrest to report for each of these elements? Multiple Choice Net income $99,000; Total assets $503,000; Total liabilities $350,000; Stockholders equity $153,000 Net income $104,000; Total assets $498,000; Total liabilities $340,000; Stockholders equity $158,000 Net income $114,000; Total assets $518,000; Total liabilities $340,000; Stockholders equity $178,000 Net income $94,000; Total assets $508,000; Total liabilities $350,000; Stockholders equity $158,000

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