He assets and liabilities of rocky's day spa on december 31 and its revenue and expenses for the year are listed below. the capital of the owner is $68,000 on january 1. the owner invested an additional $10,000 during the year. accounts payable $ 4,375 spa operating expense $23,760 accounts receivable 8,490 office expense 2,470 cash 13,980 spa supplies 9,230 fees earned 98,435 wages expense 26,580 spa furniture and equipment 56,000 drawing 38,170 computers 2,130 prepare a statement of owner's equity for the current year ended december 31

Which of the following statements is not correct? the stock of publicly owned companies must generally be registered with and reported to a regulatory agency such as the sec. when stock in a closely held corporation is offered to the public for the first time, the transaction is called "going public, or an ipo," and the market for such stock is called the new issue or ipo market. "going public" establishes a firm's true intrinsic value and ensures that a liquid market will always exist for the firm's shares. if you wanted to know what rate of return stocks have provided in the past, you could examine data on the dow jones industrial index, the s& p 500 index, or the nasdaq index.