14. Xavier Company sells af dation of $44.000 $36.000 Los 5331000 L $3,000 Loss for $33.000. The same originally cost $90,000, and securitated recorded on it. What is Xavier's gain or loss on the sale? . $3.000 Gain $36,000 GUIA 15 Depreciation expense is reported in the liabilities section of the balance sheet statement of stockholders equity the fixed assets section of the balance sheet. on the income statement Rooney Company uses the periodic method to track its inventory. The business had inerchandise with a book value of $28,000 on hand at the beginning of the year. During the year, Rooney acquired additional Stems at a cost of $100,000. At the end of the period, the company had $55,000 of inventory on hand. Rooney Company uses the periodie system of inventory control to determine cost of goods sold. 16. What is Rooney's Cost of Goods Available for Sale for the year? $183,000 d$83,000 $128,000 c. $72,000 $73.000 C 17. What is Rooney's Cost of Goods Sold for the year? 5128,000 d. $15,000 $183.000 $73.000 e. $72.000 On December 12, Cheung Company purchased 200 televisions for $280 each. By the end of the month Cheung had sold 25 of these for $335 cach 18. What amount of sales should Cheung report on its income statement? $1.375 d. $8,315 $7.000 c. $49.000 $67,000 19. What amount of cost of goods sold should Cheung report on its income statement? $67,000 $7,000 b. $49.000 c $1375 $8.375 20. What amount of gross profit should Cheung report on its income statement? $7.000 dS325 $67,000 $49.000 $8,375 . 21. What amount of merchandise loventory will Cheung report on its balatice sheet after all of these transactions have been recorded? a $19.000 558,625 b S$6,000 $8,275