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On January 1, 2016, Friedman Company purchased a truck that cost $33,000. The truck had an expected useful life of 100,000 miles over 8 years and an $7,000 salvage value. During 2017, Friedman drove the truck 34,000 miles. The amount of depreciation expense recognized in 2017 assuming that Friedman uses the units of production method is

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Packard Company engaged in the following transactions during 2015, its first year in operations: (Assume all transactions are cash transactions.)

1)	Acquired $1,200 cash from the issue of common stock.
2)	Borrowed $670 from a bank.
3)	Earned $850 of revenues.
4)	Paid expenses of $300.
5)	Paid a $100 dividend.

During 2016, Packard engaged in the following transactions: (Assume all transactions are cash transactions.)

1)	Issued an additional $575 of common stock.
2)	Repaid $395 of its debt to the bank.
3)	Earned revenues of $1,000.
4)	Incurred expenses of $460.
5)	Paid dividends of $150.

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Curtain Co. paid dividends of $14,000; $21,000; and $22,000 during 2014, 2015 and 2016, respectively. The company had 2,500 shares of 7.5%, $100 par value preferred stock outstanding that paid a cumulative dividend. The amount of dividends received by the common shareholders during 2016 would be:

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Sheldon Company began 2016 with $1,200 in its supplies account. During the year, the company purchased $3,500 of supplies on account. The company paid $2,100 on accounts payable by year end. On December 31, 2016, Sheldon counted $1,900 of supplies on hand. Sheldon's financial statements for 2016 would show: