Below Is the Common Equity Section (In Millions)of Timeless Technology's

Multiple Choice

Below is the common equity section (in millions) of Timeless Technology's last two year-end balance sheets: $\begin{array}{lrr} & 2018 & 2017 \\ \text { Common stock } & 2,000 & 1,000 \\\text { Retained earnings } & 2,000 & 2,340 \\ \text { Total common equity } & \$ 4,000 & \$ 3,340 \\\end{array}$
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The firm has never paid a dividend to its common stockholders.Which of the following statements is CORRECT?

A) The company's net income in 2018 was higher than in 2017.
B) The firm issued common stock in 2018.
C) The market price of the firm's stock doubled in 2018.
D) The firm had positive net income in both 2017 and 2018,but its net income in 2018 was lower than it was in 2017.
E) The company has more equity than debt on its balance sheet.