Streeter & Sons is a regional service company that has been in business for a few years, but has not employed a controller or anyone else full-time to keep track of its financial state. The company needs to take a good look at its financial state to determine whether it needs to make any changes in its practices, in order to prevent possible financial meltdown.
Which of the following, if true, would strengthen the case that an income statement would show Streeter & Sons where its problems lie?
The company does not have enough shareholders.
The company's expenses are too high.
The company's owners' equity is too low.
The company needs to hire more service specialists.
The company has few intangible assets.

Question

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The Answer of Streeter & Sons is a regional service company that has been in business for a few years, but has not employed a controller or anyone else full-time to keep track of its financial state. The company needs to take a good look at its financial state to determine whether it needs to make any changes in its practices, in order to prevent possible financial meltdown.
Which of the following, if true, would strengthen the case that an income statement would show Streeter & Sons where its problems lie?
The company does not have enough shareholders.
The company's expenses are too high.
The company's owners' equity is too low.
The company needs to hire more service specialists.
The company has few intangible assets.

Streeter & Sons Is a Regional Service Company That Has