1. California Company reports the following amounts for the year ended December 31, 2021:
In addition, the company had common stock of $30,000 at the beginning of the year and issued
an additional $5,000 of common stock during the year. The company had retained earnings of
$13,300 at the beginning of the year and paid dividends of $8,500.
What amount of total assets should the company report in its December 31, 2021 balance sheet?
Multiple Choice
$10,500
$110,500
$142,500
$136,200Advertising Expense$12,800Service Revenue$128,000Building$100,000Interest
Expense$2,500Salaries Expense$24,800Utilities Expense$14,500Accounts
Payable$6,300Equipment$25,700Cash$10,500Notes Payable$16,700