At the end of its first month of operations, Michael's Consulting Services reported net income of $31,600. They also had account balances of: Cash, $22,400; Office Supplies, $3,100 and Accounts Receivable $12,200. The owner's total investment for this first month was $6,100. There were no owner withdrawals in the first month was $5,850. Required:
Calculate the ending balance in stockholders' equity to be reported on the Balance Sheet.

Identify whether the statements are true or false by dragging and dropping the appropriate term into the bin provided. long-run economic growth is unlikely to be sustainable because of finite natural resources. in the modern economy, countries that possess few domestic natural resources essentially have no chance to develop economically. finding alternatives to natural resources will be very important to long-term economic growth. in the modern economy, human and physical capital are generally less important in productivity than natural resources. in the 19th century, countries with the highest per capita gdp were nearly always abundant in minerals and productive farming land.