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Question
If a company has stockholders equity of $60,000 at the end of the year, which of the following statements must be true?
a. The companys assets exceed liabilities by $60,000.
b. The company has issued $60,000 of common stock.
c. Net income for the year equals $60,000.
d. Total revenues earned during the year equal $60,000.
Answer
This answer is hidden. It contains 47 characters.
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