Using the following data from Phoenix Inc.: ($) Sales Revenue: 2,000,000 Cost of Goods Sold: 1,200,000 Net Income: 400,000 Cash: 300,000 Total Assets: 1,600,000 Total Liabilities: 900,000 Retained Earnings: 500,000 What is Phoenix Inc.'s Total Owners' Equity? A. 900,000 B. 700,000 C. 500,000 D. 800,000

Using the following data from Phoenix Inc.: ($) Sales Revenue: 2,000,000 Cost of Goods Sold: 1,200,000 Net Income: 400,000 Cash: 300,000 Total Assets: 1,600,000 Total Liabilities: 900,000 Retained Earnings: 500,000 What is Phoenix Inc.'s Total Owners' Equity? A. 900,000 B. 700,000 C. 500,000 D. 800,000

Fundamentals of Financial Management (MindTap Course List)

15th Edition

ISBN:9781337395250

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter4: Analysis Of Financial Statements

Section: Chapter Questions

Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...

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