On December 31,2001,Saskatoon Laboratories Had Assets of $235,000 and Owners

question 241

Multiple Choice

On December 31,2001,Saskatoon Laboratories had assets of $235,000 and owners' equity of $84,000.We can conclude that Saskatoon Laboratories must have:

• A)total liabilities of $151,000.
• B)suffered a net loss of $151,000.
• C)experienced a cash inflow of $319,000.
• D)paid a dividend of $3.00 per share

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