Common stock and retained earnings are both elements of stockholders’ equity. Common stock of $50,000 plus retained earnings of $70,000 equals $120,000 in stockholders’ equity.

Common stock and retained earnings are both elements of stockholders’ equity. Common stock of $50,000 plus retained earnings of $70,000 equals $120,000 in stockholders’ equity.

Current liabilities are $10,000, long-term liabilities are $20,000, common stock is $50,000, and retained earnings totals $70,000. How much is total stockholders' equity?

$150,000

$140,000

$120,000

$70,000

Assets are classified as current assets; long-term investments; property,plant and equipment; and intangible assets.

In a classified balance sheet, how are assets usually classified?

Current assets; long-term investments; tangible assets; and intangible assets

Current assets; long-term investments; property, plant, and equipment; and intangible assets

Current assets; long-term assets; property, plant, and equipment; and intangible assets

Current assets; long-term investments; property, plant, and equipment; and common stock