Gym Corporation Reported the Following Information at December 31, 2016

question 144

Essay

Gym Corporation reported the following information at December 31, 2016: $$\begin{array} { l r l r } \text { Accounts payable } & \$ 40,000 & \text { Dividends declared and paid } & \$ 10,000 \\\text { Cash } & 75,000 & \text { Expenses } & 60,000 \\\text { Inventories } & 18,000 & \text { Revenue } & 75,000\end{array}$$ A) Calculate Gym Corporation's total assets.
B) Calculate Gym Corporations' net income for 2016.
C) Calculate Gym Corporation's total stockholders' equity at the end of 2016 .

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