Following data reselected information on Marbel Company for the year 2019: Cash balance, January 1 130,000 Accounts receivable, January 1 190,000 Collections from customers 2,100,000 Stockholders’ equity, January 1 380,000 Total assets, January 1 750,000 Total assets, December 31 880,000 Cash balances, December 31 160,000 Accounts receivable, December 31 360,000 Total liabilities, December 31 390,000 The net income of Marbel for 2019 is: A. 490,000 B. 150,000 C. 110,000 D. 70,000

Following data reselected information on Marbel Company for the year 2019: Cash balance, January 1 130,000 Accounts receivable, January 1 190,000 Collections from customers 2,100,000 Stockholders’ equity, January 1 380,000 Total assets, January 1 750,000 Total assets, December 31 880,000 Cash balances, December 31 160,000 Accounts receivable, December 31 360,000 Total liabilities, December 31 390,000 The net income of Marbel for 2019 is: A. 490,000 B. 150,000 C. 110,000 D. 70,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Following data reselected information on Marbel Company for the year 2019:

Cash balance, January 1 130,000

Accounts receivable, January 1 190,000

Collections from customers 2,100,000

Stockholders’ equity, January 1 380,000

Total assets, January 1 750,000

Total assets, December 31 880,000

Cash balances, December 31 160,000

Accounts receivable, December 31 360,000

Total liabilities, December 31 390,000

The net income of Marbel for 2019 is:

490,000

150,000

110,000

70,000

Definition Definition Assets available to stockholders after a company's liabilities are paid off. Stockholders’ equity is also sometimes referred to as owner's equity. A stockholders’ equity or book value generally includes common stock, preferred stock, and retained earnings and is an indicator of a company's financial strength.

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