George Company Was Started on January 1, 2013, When It

Multiple Choice

George Company was started on January 1, 2013, when it acquired $8,000 cash by issuing common stock. During 2013, the company earned cash revenues of $3,500, paid cash expenses of $2,750, and paid a cash dividend of $300. Based on this information,

A) The December 31, 2013 balance sheet would show total equity of $11,500.
B) The 2013 income statement would show net income of $450.
C) The 2013 statement of cash flows would show net cash inflow from operating activities of $750.
D) The 2013 statement of cash flows would show a net cash flow from financing activities of $8,000.