Question $1$

We are analyzing Stretch Pilates Inc thathas published the following data at the end of $2020($ignore income taxes$)$:

$2020$ revenues were $$93,000.$

$2020$ expenses were $$50,200.$

Dividends declared and paid during $2020$ totaled $$9,300.$

Total assets at December $31,2020$ were $$201,000.$

Total liabilities at December $31,2020$ were $$122,000.$

Common stock at December $31,2020$ was $$43,000.$

Which of the following is not correct?

Total liabilities and stockholders' equity at December $31,2020$ was $$201,000.$

Total stockholders' equity at December $31,2020$ was $$79,000.$

Retained earnings on December $31,2020$ were $$33,500.$

$2020$ net income was $$42,800.$

Ouestion?