Santa Fe Company was started on January 1,2016,when it acquired $9,000 cash by issuing common stock.During 2016,the company earned cash revenues of $4,500,paid cash expenses of $3,750,and paid a cash dividend of $250.Based on this information,
A)The December 31,2016 balance sheet would show total equity of $8,750.
B)The 2016 income statement would show net income of $500.
C)The 2016 statement of cash flows would show net cash inflow from operating activities of $4,500.
D)The 2016 statement of cash flows would show a net cash flow from financing activities of $8,750.

Question

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The Answer of Santa Fe Company was started on January 1,2016,when it acquired $9,000 cash by issuing common stock.During 2016,the company earned cash revenues of $4,500,paid cash expenses of $3,750,and paid a cash dividend of $250.Based on this information,
A)The December 31,2016 balance sheet would show total equity of $8,750.
B)The 2016 income statement would show net income of $500.
C)The 2016 statement of cash flows would show net cash inflow from operating activities of $4,500.
D)The 2016 statement of cash flows would show a net cash flow from financing activities of $8,750.

Santa Fe Company Was Started on January 1,2016,when It Acquired