Examples of liabilities include: A. accounts payable and long - term debt. O B. accounts payable and dividends. O C. investments and note payable. O D. accounts payable and common stock. A net loss occurs when: O A. total revenues and dividends exceed total expenses and losses. B. total revenues exceed total expenses. O C. total expenses and losses exceed total revenues and gains. O D. not enough cash exists. The income statement: A. reports the results of operations since the inception of the business. B. must cover only a month in time. O C. is not dated. D. covers a defined period of time. 29 of 37 (35 complete) Lorna Company is a new company with a beginning retained earnings balance of zero. It has the folowing account balances at the end of the first year of operations Accounts Payable $37.000 $106,000 Revenues Salaries Expense $14,000 $8,000 $12,000 Dividends Utilities Expense Advertising Expense Short-term Investments $10,000 $69.000 $33,000 $50,000 $53,000 Cash Land Common Stock What is the endinn hatance in Retained Farninns? O A. $30,000 O B. $40,000 O c. $32.000 O D. $62,000 Click to select your answer. Type here to search