1. The Digby Company has just issued $7,169,042 in dividends last year. The effect of this payment on the balance sheet is:
Net Profit will decrease $7,169,042
Expenses will increase $7,169,042
Liabilities will increase $7,169,042
Equity will decrease $7,169,042
2. Midyear on July 31st, the Baldwin Corporation's balance sheet reported:
Total Liabilities of $102.781 million
Total Common Stock of $5.080 million
Cash of $8.040 million
Retained Earnings of $36.891 million.
What were the Baldwin Corporation's total assets?
$136.712 million
$68.850 million
$144.752 million
$73.930 million