Use the adjusted trial balance for stockton company below to answer the questions

Given:
stockton company adjusted trial balance december 31
cash 7,530
accounts receivable 2,100
prepaid expenses 700
equipment 13,700
accumulated depreciation 1,100
accounts payable 1,900
notes payable 4,300
common stock 1,000
retained earnings 12,940
dividends 790
fees earned 9,250
wages expense 2,500
rent expense 1,960
utilities expense 775
depreciation expense 250
miscellaneous expense 185

To determine the total assets, we only have to consider the following:
cash                                         7,530 
accounts receivable                 2,100 
prepaid expenses                       700 
equipment                              13,700 
accumulated depreciation       (1,100) 
Total assets:                         22,930    CHOICE D.

NET INCOME: 
fees earned                                9,250 
wages expense                         (2,500) 
rent expense                             (1,960) 
utilities expense                           (775) 
depreciation expense                   (250) 
miscellaneous expense                (185)
Net Income                                  3,580

LIABILITIES AND S.H.E
accounts payable                        1,900 
notes payable                              4,300 
common stock                             1,000 
retained earnings                       12,940 
dividends                                      (790) 
Net Income                                   3,580
TOTAL LIABILITIES & SHE      22,930

Binding price ceilings benefit consumers because they allow consumers to buy all the goods they demand at a lower price.  FALSE. A binding price ceiling is created when the government decides how much an item can be sold for and states it can not rise above that set price. This stops businesses from seeing that their item is in high demand and raising the price so that they can make more money off the item.