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Which amounts determined by looking at balance sheet

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Comfy Home hired an accountant to create financial statements for its first year in business, from January 1, 2014 through December 31, 2014. The company did not pay any dividends in 2014.

Problem 1: Which of the following amounts can be determined by looking solely at the balance sheet as of December 31, 2014 (not looking at any other financial statements or other information)?

Option 1: Net income from 2014

Option 2: Cost of all appliances and decorating items purchased in 2014

Option 3: Payments made on a bank loan in 2014

Option 3: Gift card sales made during 2014

Reference no: EM132647176

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