Problem:
The year-end financial statements of Greenway Company contained the following elements and corresponding amounts: Assets = $23,000; Liabilities = ?; Common Stock = $5,300; Revenue = $11,600; Dividends = $900; Beginning Retained Earnings = $3,900; Ending Retained Earnings = $7,300.
The amount of liabilities reported on the end-of-period balance sheet was
A. $11,200.
B. $10,400.
C. $13,800.
D. $9,200.
Note: Please provide full description.