Michael Company Reports Total Assets of $254,000,Common Stock of $50,000,and

question 109

Multiple Choice

Michael Company reports Total Assets of $254,000,Common Stock of $50,000,and Retained Earnings of $94,000.What are total liabilities at the end of the first year?

• A)$110,000
• B)$210,000
• C)$160,000
• D)$204,000