The balance sheet for Reader Rebels for December 31 of 2020 and 2021 is shown below:

Assets	2020	2021		Liabilities & equity	2020	2021
Cash	2,500	3,720		Accounts payable	3,000	7,440
Accounts receivable	5,500	9,300		Notes payable	1,500	3,100
Inventory	7,500	8,680		Accruals	2,500	2,480
Current assets	15,500	21,700		Current liabilities	7,000	13,020
Land	12,500	12,500		Long-term debt	9,000	14,980
Buildings	7,500	12,400		Total liabilities	16,000	28,000
Equipment	20,000	27,900		Common stock	6,500	6,500
Accumulated depr.	5,500	12,500		Retained earnings	27,500	27,500
Net fixed assets	34,500	40,300		Total equity	34,000	34,000
Total assets	50,000	62,000		Total liab. & equity	50,000	62,000

The company did not repurchase any stock during those years.

Attempt 1/1

Part 1

Which of the following statements are true about 2021?

Check all that apply:

The company issued new stock.

Dividends equaled net income for the year.

The company invested more in fixed assets than it paid in dividends.

The company had zero net income.