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Sarah Zocki is interviewing next week for a job at Rainbow Inks Corporation. Which financial statement should she examine to evaluate how well Rainbow Inks Corporation performed last year?

A. Balance sheet
B. Income Statement
C. Statement of cash flows
D. Statement of retained earnings

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During the year, Snowtown Corporation has $320,000 in revenues, $115,000 in expenses, and $8,000 in dividend declarations and payments. Stockholders’ equity changed by

A. +$205,000
B. -$197,000
C. +$213,000
D. +$197,000

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During the year, Snowtown Corporation has $320,000 in revenues, $115,000 in expenses, and $8,000 in dividend declarations and payments. Snowtown Corporation had

A. net income of $123,000
B. net income of $205,000
C. net income of $435,000
D. net loss of $135,000

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Jammer Corporation holds cash of $8,000 and owes $21,000 on accounts payable. Jammer has accounts receivable of $33,000, inventory of $28,000, and land that cost $42,000. How much are Jammer’s total assets and liabilities?

A. Total Assets$83,000; Liabilities$49,000
B. Total Assets$69,000; Liabilities$63,000
C. Total Assets$111,000; Liabilities$49,000
D. Total Assets$111,000; Liabilities$21,000

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Which item(s) is(are) reported on the balance sheet?

A. Inventory
B. Accounts payable
C. Retained earnings
D. All of the listed choices

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Sarah Zocki is interviewing next week for a job at Rainbow Inks Corporation. Which financial statement should she examine to evaluate how well Rainbow Inks Corporation performed last year?

A. Balance sheet B. Income Statement C. Statement of cash flows D. Statement of retained earnings

During the year, Snowtown Corporation has $320,000 in revenues, $115,000 in expenses, and $8,000 in dividend declarations and payments. Stockholders’ equity changed by

During the year, Snowtown Corporation has $320,000 in revenues, $115,000 in expenses, and $8,000 in dividend declarations and payments. Snowtown Corporation had

Jammer Corporation holds cash of $8,000 and owes $21,000 on accounts payable. Jammer has accounts receivable of $33,000, inventory of $28,000, and land that cost $42,000. How much are Jammer’s total assets and liabilities?

Which item(s) is(are) reported on the balance sheet?

A. Balance sheet
B. Income Statement
C. Statement of cash flows
D. Statement of retained earnings