XYZ Company reports total assets and total shareholders' eQuity of $375,000 and $220,000, respectively, at the end of its first year of business. The company reported earnings of $100,000 and distributed $40,000 in dividends during its first year. Also during the year, the company issued additional shares of stock for $75,000. What are the firm's liabilities at year end and the firm's contributed capital at the beginning of the year, respectively?

A __________________ involves comparing the changes in a firm's ratios over a multiple-year period.

Economic resources that have the potential or ability to provide future services or benefits to the firm are called _________________.

Which is NOT a current asset?

During the year, XYZ Company issued additional common stock. This transaction is an example of which of the following?

A creditor's claim on the resources of the company is called ____________.

What four components are contained in a financial statement?

Current assets are assets that are intended to be converted into cash or consumed within:

Is net income equal to the net cash generated by operations? Where is net cash reported?

On a balance sheet, which of the following is subject to depreciation?

What equation is used when calculating the statement of retained earnings?