The following balance sheet information is provided:
A)What is the amount of Stockholders' Equity at January 1, 2019?
B)What is the amount of Liabilities at December 31, 2019?
C)Assume that the company paid dividends of $620,000 during the year. How much net income did it earn during the year?
D)Assume that the company paid no dividends during the year. Without looking at the income statement, how can you tell if the company is profitable or not?

Question

The following balance sheet information is provided:   
A)What is the amount of Stockholders' Equity at January 1, 2019? 
B)What is the amount of Liabilities at December 31, 2019? 
C)Assume that the company paid dividends of $620,000 during the year. How much net income did it earn during the year? 
D)Assume that the company paid no dividends during the year. Without looking at the income statement, how can you tell if the company is profitable or not?

Quizplus · Accepted Answer

The Answer of The following balance sheet information is provided:   
A)What is the amount of Stockholders' Equity at January 1, 2019? 
B)What is the amount of Liabilities at December 31, 2019? 
C)Assume that the company paid dividends of $620,000 during the year. How much net income did it earn during the year? 
D)Assume that the company paid no dividends during the year. Without looking at the income statement, how can you tell if the company is profitable or not?

The Following Balance Sheet Information Is Provided