Gym Corporation reported the following information at December 31,2017:
A)Calculate Gym Corporation's total assets.
B)Calculate Gym Corporations' net income for 2017.
C)Calculate Gym Corporations' total stockholders' equity at the end of 2017.
$\begin{array}{lrlr}
\text { Accounts payable } & \$ 40,000 & \text { Dividends declared and paid } & \$ 10,000 \
\text { Cash } & 75,000 & \text { Expenses } & 60,000 \
\text { Inventories } & 18,000 & \text { Revenue } & 75,000
\end{array}$

Question

Gym Corporation reported the following information at December 31,2017:
A)Calculate Gym Corporation's total assets.
B)Calculate Gym Corporations' net income for 2017.
C)Calculate Gym Corporations' total stockholders' equity at the end of 2017.
 $\begin{array}{lrlr}
\text { Accounts payable } & \$ 40,000 & \text { Dividends declared and paid } & \$ 10,000 \
\text { Cash } & 75,000 & \text { Expenses } & 60,000 \
\text { Inventories } & 18,000 & \text { Revenue } & 75,000
\end{array}$

Quizplus · Accepted Answer

The Answer of Gym Corporation reported the following information at December 31,2017:
A)Calculate Gym Corporation's total assets.
B)Calculate Gym Corporations' net income for 2017.
C)Calculate Gym Corporations' total stockholders' equity at the end of 2017.
 $\begin{array}{lrlr}
\text { Accounts payable } & \$ 40,000 & \text { Dividends declared and paid } & \$ 10,000 \
\text { Cash } & 75,000 & \text { Expenses } & 60,000 \
\text { Inventories } & 18,000 & \text { Revenue } & 75,000
\end{array}$

Gym Corporation Reported the Following Information at December 31,2017: A)Calculate

Gym Corporation Reported the Following Information at December 31,2017:
A)Calculate