Question
1- Ocean Pines Company had net income $525,000. They also had depreciation expense of $150,000, an increase or (decrease) in accounts receivable of $-20,000, and
1- Ocean Pines Company had net income $525,000. They also had depreciation expense of $150,000, an increase or (decrease) in accounts receivable of $-20,000, and an increase or (decrease) in inventory of $45,000. Ocean Pines prepares their Statement of Cash Flows using the indirect method.Use this information to determine the dollar value of cash provided or (used) by operating activities. A negative number for accountsreceivableor inventory indicates that the balance decreased. Enter as a whole number (no cents).
2 - At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders' equity of $4,300,000. On FY 2018 year end, Somerset Corporation had Common Stock account of $1,200,000 of $10 par value common stock and Preferred Stock account of $150,000 of $100 par value stock.There was no treasury stock. The preferred stock was noncumulative and non-callable.Use this information to determine the book value per share of Common Stock as of end of the FY 2018: (Round your answer to the nearest penny.)
3- On January 2, 2020, All Good Company purchased 10,000 shares of the stock of Big Bad Company, and DID obtain significant influence.The investment is intended as a long-term investment.The stock was purchased for $19.00 per share, and represents a 30% ownership stake.Big BadCompany made $200,000 of net income in 2020, and paid dividends to All Good Company of $30,000 on December 15, 2020.Big Bad Company's stock was trading on the open market for $14.50 per share at the end of the year.Use this information to determine the book value of the investment that should be reported at year end by All Good Company. Round to nearest whole number (no cents).
4- On January 2, 2019, All Good Company purchased 15,000 shares of the stock of Big Bad Company, and DID NOT obtain significant influence.The investment is intended as a long-term investment.The stock was purchased for $10.00 per share, and represents a 10% ownership stake.Big BadCompany made $45,000 of net income in 2020, and paid dividends to All Good Company of $147,500 on December 15, 2020.On December 31, 2020, Big Bad Company's stock was trading on the open market for $19.50 per share at the end of the year.Use this information to determine the unrealized gain or loss on the investment that should be reported at year end by All Good Company.If it is a loss, enter as a negative number.Round to nearestwholenumber (no cents).
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