The statement of retained earnings is a point in time financial statement. Which of the following is considered to be an expense on the income statement? A. Accounts payable B. Notes pay able C. Wages payable D. Cost of goods sold Which of the following has primary responsibility to develop Generally Accepted Accounting Principles? A. Financial Accounting Standards Board B. American Accounting Association C. Securities & Exchange Commission D. Public Company Accounting Oversight Board Willie Company's retained earnings increased $20,000 during 2010. What was Willie's 2010 net income or loss given that Willie declared S25.000 of dividends during 2010? A. Net income was $5,000. B. Net income was S45.000. C. Net loss was $45,000. D. Net loss was $5,000. What arc the categories of cash flow s that appear on a statement of cash flows? A. Cash flows from investing, financing, and service activities. B. Cash flows from operating, production, and internal activities. C. Cash flows from financing, production, and growth activities. D. Cash flows from operating, investing, and financing activities