Jestion Completion Status: Moving to another question will save this response. uestion 21 Using the following balance sheet and income statement data, what is the solvency ratio? Current assets $ 84,000 Net income Current liabilities 48,000 Stockholders' equity Average assets 480,000 Total liabilities Total assets 420,000 Average common shares outstanding was 30,000. S 126,000 234,000 126,000 a. 65 percent b. 35 percent c. 30 percent d. 26 percent e. None of the above. Question Completion Status: Moving to another question will save this response. Question 18 The following information is from the Income Statement of the Dirt Poor Laundry Service: Revenues $33,000 Service Revenue Expenses $ 11,700 3,000 1,800 Salaries and Wages expense Advertising expense Rent expense Supplies expense Insurance expense Total expenses Net Income 1,200 18.300 $14.700 The entry to close the Income Summary includes a: a. debit to Retained Earnings for $14,700. b. debit to Income Summary for $14,700. c. credit to Income Summary for $14,700. d. credit to Common Stock for $14,700 e. None of the above A $ QwERTY Jestion Completion Status: Moving to another question will save this response. uestion 21 Using the following balance sheet and income statement data, what is the solvency ratio? Current assets $ 84,000 Net income Current liabilities 48,000 Stockholders' equity Average assets 480,000 Total liabilities Total assets 420,000 Average common shares outstanding was 30,000. S 126,000 234,000 126,000 a. 65 percent b. 35 percent c. 30 percent d. 26 percent e. None of the above. Question Completion Status: Moving to another question will save this response. Question 18 The following information is from the Income Statement of the Dirt Poor Laundry Service: Revenues $33,000 Service Revenue Expenses $ 11,700 3,000 1,800 Salaries and Wages expense Advertising expense Rent expense Supplies expense Insurance expense Total expenses Net Income 1,200 18.300 $14.700 The entry to close the Income Summary includes a: a. debit to Retained Earnings for $14,700. b. debit to Income Summary for $14,700. c. credit to Income Summary for $14,700. d. credit to Common Stock for $14,700 e. None of the above A $ QwERTY