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Question 10: Below are the 2018 and 2019 year-end balance sheets for Excitement Enterprises: Assets: Cash and equivalents Accounts receivable Inventories Total current assets

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Question 10: Below are the 2018 and 2019 year-end balance sheets for Excitement Enterprises: Assets: Cash and equivalents Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity: Accounts payable Notes payable to bank Total current liabilities Long-term bonds Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity 2019 $ 200,000 864,000 2018 $170,000 2,000,000 700,000 1,400,000 $3,064,000 $2.270,000 6.000.000 5.600.000 $9.064.000 $7.870.000 $1,400,000 $1,090,000 1,600,000 1.800.000 $3,000,000 $2,890,000 2.400.000 2.400.000 $5.400.000 $5.290.000 $3,000,000 $2,000,000 664,000 580,000 $3.664.000 $2.580.000 $9.064.000 $7.870.000 Excitement Enterprises did not pay a dividend on its common stock during 2018 and 2019. As of the end of 2019, only interest has been paid on the long- term bonds Assume that the company's sales in 2018 and 2019 were the same. Which of the following statements must be correct? Excitement Enterprises repurchased some common stock in 2019. O Excitement Enterprises issued new common stock in 2019. Excitement Enterprises issued additional long-term bonds in 2019. O Excitement Enterprises increased its use of short-term bank debt in 2019. Excitement Enterprises had a net loss in 2019.

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