14 14 15 12 26 17 19 20 218 22 25 28 23 81 91 18 21 21 24 12 26 27 29 13 18 81 31 32 33 1 HI 1.12 Question 37 (Mandatory) (2.5 points) Equipment is classified on the balance sheet as a current asset. property, plant, and equipment. an intangible asset. Oa long-term investment. Question 38 (Mandatory) (2.5 points) If total liabilities decreased by $75,000 and stockholders' equity increased by $15,000 during a period of time, then total assets must change by what amount and direction during that same period? $60,000 decrease $60,000 increase $75,000 increase $90,000 increase 34 35 36 I 81 37 40 38 29 8.1 1 Question 39 (Mandatory) (2.5 points) Ashley's Accessory Shop started the year with total assets of $210,000 and total liabilities of $120,000. During the year, the business recorded $330,000 in revenues, $165,000 in expenses, and dividends of $60,000. The net income reported by Ashley's Accessory Shop for the year was $120,000. $150,000. $195,000. $165,000 Question 40 (Mandatory) (2.5 points) Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Lie's Flower Shoppe Balance Sheet December 31, 2022 Cab $120,000 Acc $ 105,000 Acole 120,000 Salaries and ple 210,000 Mortgage peable 30,000 229.308 Prepaid inne 90,000 Titl 485,000 Stock invertes 255,000 Land 281,000 Buildings 1139,000 Com 340,000 Les Acc Retained p 220.000 depreciat 279,000 Top Tra 219.00 T ALATLAN $1.029,000 $774.000 $834,000 $564,000