Degeare Corporation's balance sheet and income statement appear below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Current assets: Cash and cash equivalents$35 $28 Accounts receivable 65 77 Inventory 47 40 Total current assets 147 145 Property, plant, and equipment 518 490 Less accumulated depreciation 233 213 Net property, plant, and equipment 285 277 Total assets$ 432 $ 422 Liabilities and stockholders' equity: Current liabilities: Accounts payable$61 $54 Accrued liabilities 15 16 Income taxes payable 36 35 Total current liabilities 112 105 Bonds payable 72 100 Total liabilities 184 205 Stockholders' equity: Common
stock 82 80 Retained earnings 166 137 Total stockholders' equity 248 217 Total liabilities and stockholders' equity$ 432 $ 422 Income StatementSales$ 590Cost of goods sold 363Gross margin227Selling and administrative expense 184Net operating income43Gain on sale of plant and equipment 13Income before taxes56Income taxes 17Net income$ 39Cash dividends were $10. The company sold equipment for $18 that was originally purchased for $10 and that had accumulated depreciation of $5. The net cash provided by (used in) operating activities for the year was:
A. $63
B. $76
C. $43
D. $73
Answer: A
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1. The sun was shining directly into Matt's eyes, so he looked away and missed the coach's demonstration of a defensive technique. In this case, the sun acts as feedback in the communication process. 2. Face-to-face communication is the richest form of communication because the receiver observes multiple cues in the message. 3. If you must tell an employee that he is facing a sexual harassment investigation, you should use a rich medium of communication. 4. The danger of using a lean medium for nonroutine matters is that it results in information oversimplification; it doesn't provide enough of the information the receiver needs and wants.
Which of the following is often used to represent profit in the United States, but not in other countries?
A) Green B) White C) Blue D) Yellow E) Red
A unilateral contract can be accepted without the performance of an act by the offeree
Indicate whether the statement is true or false
The total amount of interest that will be paid on a four-month, $6,500, 9% note payable equals:
A. $292. B. $146. C. $195. D. $585.