Willie Companys retained earnings increased $25,000 during the current year. What was Willies current year net income or loss given that Willie declared $48,000 of dividends during this year?

Multiple Choice

• Net income was $23,000.

• Net income was $73,000.

• Net loss was $73,000.

• Net loss was $23,000.

Lena Company has provided the following data for its 2019 operations (ignore income taxes):

2019 revenues were $80,000.

2019 expenses were $48,900.

Dividends declared and paid during 2019 totaled $8,000.

Total assets at December 31, 2019 were $188,000.

Total liabilities at December 31, 2019 were $111,000.

Common stock at December 31, 2019 was $30,000.

Which of the following is correct?

Multiple Choice

• 2019 net income was $23,100.

• Total stockholders' equity at December 31, 2019 was $247,000.

• Retained earnings at December 31, 2019 were $47,000.

• Retained earnings at December 31, 2019 were $23,100.

During 2019, Canton Company's assets increased $96,100 and the liabilities decreased $23,300. Canton Companys stockholders equity at December 31, 2019 was $217,500. What amount was stockholders equity at January 1, 2019?

Multiple Choice

• $98,100

• $336,900

• $144,700

• $290,300

Sparty Corporation has provided the following information for its most recent year of operation:

Revenues earned were $82,000, of which $8,000 were uncollected at the end of the year.

Operating expenses incurred were $45,000, of which $7,000 were unpaid at the end of the year.

Dividends declared were $18,000, of which $2,000 were unpaid at the end of the year.

Income tax expense is $11,100.

What is the amount of net income reported on Sparty's income statement?rev: 01_04_2015_QC_CS-37143

Multiple Choice

• $13,300

• $25,300

• $14,000

• $25,900