What was carlisle clinics equity balance

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Reference no: EM131307908

Carlisle Clinic, a not-for-profit organization, reported an equity balance of $1 million on its December 2012 balance sheet. Assuming Carlisle Clinic reported net income of $200,000 for the year that ended December 31, 2012, and had no other adjustments to equity during 2012, what was Carlisle Clinic's equity balance as of December 31, 2011? Select one: a. $800,000, b. $1.2 million, c. $200,000, d. $1 million, e. answer cannot be determined on the basis of the information provided.

Reference no: EM131307908

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