Income Statement Items Explain how each of the following individual transactions affects (increases, decreases, or does not affect) the reported accrual-basis net income of Central Corporation. If income is unaffected, explain why:

a. Payments of $35,000 are made on accounts payable.

b. Inventory costing $75,000 is purchased and all but $8,000 of it is sold during the period for $32,000.

c. Land previously purchased for $84,000 is sold for

$97,000.

d. A change of accounting methods results in an upward cumulative adjustment of $6,300.

e. Utility bills totaling $4,100 are received during the period, but remain unpaid at the end of the period.

f. Total credit sales for the period are $285,000. At the end of the period, $82,000 is uncollected. All accounts receivable are expected to be collected.

g. Additional shares of common stock are sold by Central Corporation for $325,000.