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The year-end financial statements of Grunewald Company contained the following elements and corresponding amounts. Assets = $22,000; Common Stock = $5,000; Revenue = $11,000; Dividends

The year-end financial statements of Grunewald Company contained the following elements and corresponding amounts. Assets = $22,000; Common Stock = $5,000; Revenue = $11,000; Dividends = $750; Beginning Retained Earnings = $3,750; Ending Retained Earnings = $6,000. Based on this information, the amount of liabilities reported on the end-of-period balance sheet was a. $8,750 b. $10,250 c. $11,000 d. $750 N

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