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The balance sheet for GameStonk Inc. for December 31 of 2020 and 2021 is shown below: Assets 2020 2021 Liabilities & equity 2020 2021 Cash
The balance sheet for GameStonk Inc. for December 31 of 2020 and 2021 is shown below:
Assets | 2020 | 2021 | Liabilities & equity | 2020 | 2021 | |
Cash | 2,700 | 3,600 | Accounts payable | 3,780 | 3,402 | |
Accounts receivable | 7,560 | 9,000 | Accruals | 2,700 | 2,500 | |
Inventory | 8,100 | 11,400 | Notes payable | 1,620 | 1,220 | |
Current assets | 18,360 | 24,000 | Current liabilities | 8,100 | 7,122 | |
Land | 13,500 | 13,500 | Long-term debt | 9,720 | 10,120 | |
Buildings | 8,100 | 12,000 | Total liabilities | 17,820 | 17,242 | |
Equipment | 21,600 | 27,000 | Common stock | 7,020 | 8,424 | |
Accumulated depr. | 7,560 | 16,500 | Retained earnings | 29,160 | 34,334 | |
Net fixed assets | 35,640 | 36,000 | Total equity | 36,180 | 42,758 | |
Total assets | 54,000 | 60,000 | Total liab. & equity | 54,000 | 60,000 |
Attempt 1/1
Part 1
Which of the following statements are true about 2021?
Check all that apply:
The company increased its short-term debt.
The company issued new long-term debt.
The company repurchased some common stock.
The company issued new common stock.
Net income was positive.
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