Below Are the 2018 and 2019 Year-End Balance Sheets for Tran

question 83

Multiple Choice

Below are the 2018 and 2019 year-end balance sheets for Tran Enterprises: Liabilities and equity:
The firm has never paid a dividend on its common stock,and it issued $2,400,000 of 10-year,non-callable,long-term debt in 2018.As of the end of 2019,none of the principal on this debt had been repaid.Assume that the company's sales in 2018 and 2019 were the same.Which of the following statements must be CORRECT?

• A) The firm increased its short-term bank debt in 2019.
• B) The firm issued long-term debt in 2019.
• C) The firm issued new common stock in 2019.
• D) The firm repurchased some common stock in 2019.
• E) The firm had negative net income in 2018.

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