Brown Corporation reported the following amounts at the end of the first year of operations,December 31,20A: share capital $20,000; sales revenue $95,000; total assets $85,000,no dividends,and total liabilities $35,000.What would shareholders' equity and total expenses be?
A) Shareholders' equity,$50,000 and expenses $65,000.
B) Shareholders' equity,$60,000 and expenses $75,000.
C) Shareholders' equity,$80,000 and expenses $40,000.
D) Shareholders' equity,$80,000 and expenses $85,000.
Correct Answer:
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