Use the following Balance Sheet and Income Statement to answer the question. What are Total Liabilities and Stockholders' Equity as of December 31, 2010?
A)$ 77,000
B)$150,000
C)$152,000
D)$ 75,000

Question

Use the following Balance Sheet and Income Statement to answer the question.   What are Total Liabilities and Stockholders' Equity as of December 31, 2010?
A)$ 77,000 
B)$150,000 
C)$152,000 
D)$ 75,000

Quizplus · Accepted Answer

Total Liabilities and Stockholders' Equity as of December 31, 2010 is the sum of Total Liabilities and Stockholders' Equity, which is $152,000 ($75,000+$77,000).

Use the Following Balance Sheet and Income Statement to Answer