Solution for QID #40198: George Washington UniversityACCY 2001 Lena Company has pr | StudyHelpMe

George Washington UniversityACCY 2001 Lena Company has provided the following data (ignore income taxes): 2014 revenues were $99,000. 2014 expenses were $47,800. Dividends declared and paid during 2014 totaled $9,500. Total assets at December 31, 2014 were $177,000. Total liabilities at December 31, 2014 were $89,000. Common stock and additional paid-in capital at December 31, 2014 was $28,000. Which of the following is not correct?   2014 net income was $51,200. Total stockholders' equity at December 31, 2014 was $88,000. Total liabilities and stockholders' equity at December 31, 2014 was $177,000. Retained earnings on December 31, 2014 were $41,700.