​If a firm is earning negative economic profits,it implies

A) ​That the firm's accounting profits are necessarily zero
B) That the firm's accounting profits are necessarily positive
C) That the firm's accounting profits are necessarily negative
D) ​Economic profits alone cannot determine accounting profits

A sale of $750 on account subject to a sales tax of 6% would be recorded as an account receivable of $750.

Which advertising slogan provides information to potential buyers?

A) "Coffee Palace-Stop and smell the coffee!"
B) "Karaoke Maker wants you to just sing it!"
C) "Bee's Beachside Restaurant is the only restaurant on the beach for 50 miles."
D) "The Happy Hotel wants you to be happy!"

The following information is available from the records of LoopTech, Inc. On January 1, Common Stock had a balance of $50,000, and Retained Earnings had a balance of $342,500. During the year, no additional common stock was issued, and $25,000 of dividends were paid. For the year ended December 31, LoopTech reported a net loss of $38,700. Prepare a statement of stockholders' equity for the year ended December 31.