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

question 61

Multiple Choice

Madrid Company has provided the following data (ignore income taxes) :
2010 revenues were $77,500.
2010 net income was $33,900.
Dividends declared and paid during 2010 totaled $5,700.
Total assets on December 31,2010 were $217,000.
Total stockholders' equity on December 31,2010 was $123,000.
Retained earnings on December 31,2010 were $83,000.
Which of the following is correct?

• A)2010 expenses were $37,900.
• B)Total liabilities on December 31, 2010 were $11,000.
• C)Retained earnings increased $28,200 during 2010.
• D)Contributed capital on December 31, 2010 was $206,000.

---

Definitions:

Closing Phase

The final stage of a process, project, or transaction where completion and consolidation of tasks are emphasized.

Direct Question

A straightforward query that aims to elicit a specific answer without ambiguity or evasion.

Hourglass Sequence

A structure or method typically used in storytelling or presentations that begins with a broad perspective, narrows to a specific focus, and then broadens again.

Hypothetical Open Questions

Queries that propose a theoretical situation, encouraging respondents to think and speculate about possible answers or outcomes.