Madrid Company Has Provided the Following Data (Ignore Income Taxes)

question 108

Multiple Choice

Madrid Company has provided the following data (ignore income taxes) : 2019 revenues were $77,500.
2019 net income was $33,900.
Dividends declared and paid during 2019 totaled $5,700.
Total assets at December 31,2019 were $217,000.
Total stockholders' equity at December 31,2019 was $123,000.
Retained earnings at December 31,2019 were $83,000.
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Which of the following is not correct?

• A)2019 expenses were $43,600.
• B)Total liabilities at December 31,2019 were $94,000.
• C)Retained earnings increased $33,900 during 2019.
• D)Common stock at December 31,2019 was $40,000.

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Definitions:

Permeability

A property of a material or membrane that allows liquids or gases to pass through it.

Edema

Swelling caused by excess fluid trapped in the body's tissues, often resulting from inflammation, injury, or disease.

Phagocytizes

The process by which cells, especially immune cells, engulf and digest microscopic particles or other cells.

Neutrophil

A type of white blood cell that forms an essential part of the immune system, primarily involved in fighting off infections by engulfing bacteria and debris.