Question 17 (Mandatory) (2.5 points) Finney Company began the year by issuing $80,000 of common stock for cash. The company recorded revenues of $740,000, expenses of $640,000, and paid dividends of $40,000. What was Finney's net income for the year? $60,000 $140,000 $100,000 $180,000 Question 18 (Mandatory) (2.5 points) Jimmy's Repair Shop started the year with total assets of $300,000 and total liabilities of $240,000. During the year, the business recorded $630,000 in revenues, $330,000 in expenses, and dividends of $60,000. Stockholders' equity at the end of the year was $360,000. $300,000. $240,000. $270,000. Question 19 (Mandatory) (2.5 points) If total liabilities decreased by $90,000 and stockholders' equity increased by $30,000 during a period of time, then total assets must change by what amount and direction during that same period? $120,000 increase $60,000 decrease $60,000 increase 9 $90,000 decrease Question 20 (Mandatory) (2.5 points) Liabilities are future economic benefits. I are debts and obligations. possess service potential. are things of value owned by a business.