Kyra Inc has applied for a business loan in the United Bank. In ...

[itsmyluck]

Kyra Inc has applied for a business loan in the United Bank. In order to best assess the loan case, the loan officer at the bank, Sirigu, decides to look at the company's net income figure. Sirigu will find this information in Kyra's _____.
 A) profit and loss statement
  B) budgeted income statement
  C) stockholders' equity statement
  D) statement of retained earnings

Question 2

Tracy is considering expanding his business and has several potential new investors in mind. He originally wanted to form an S-corporation to protect the liability of the investors, but he is now considering a limited-liability company instead because he knows there can be only ____ stockholders in an S-corporation.
 A) 10
  B) 25
  C) 50
  D) 100
  E) 108

[quynhmickitran]

Answer to Question 1

A

Answer to Question 2

D