Multiple Choice
Emmitt had the following final balances after the first year of operations: assets,$55,000;stockholders' equity,$25,000;dividends,$3,000;and net income,$10,000.What is the amount of Emmitt's liabilities?
A) $55,000.
B) $30,000.
C) $13,000.
D) $7,000.
Correct Answer:
Verified
Correct Answer:
Verified
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