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

question 90

Multiple Choice

Lena Company has provided the following data (ignore income taxes) :
2010 revenues were $99,000.
2010 expenses were $47,800.
Dividends declared and paid during 2010 totaled $9,500.
Total assets on December 31,2010 were $177,000.
Total liabilities on December 31,2010 were $89,000.
Contributed capital on December 31,2010 was $28,000.
Which of the following is correct?

• A)2010 net income was $41,700.
• B)Total stockholders' equity on December 31, 2010 was $236,000.
• C)Retained earnings on December 31, 2010 were $60,000.
• D)Retained earnings on December 31, 2010 were $41,700.

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