18. Bartz Trucking Corporation purchased a used truck for $60,000 on January 13, 2021. Due to unusual market conditions, the trucks fair market value was $70,000 as of December 31, 2021. Ignoring accumulated depreciation, at what amount should the truck be recorded on the December 31, 2021 balance sheet? A. $60,000 B. $70,000 C. $10,000 D. None of the above is correct.

19. Which of the following conditions must be true for a company to pay a cash dividend? A. The company must have sufficient retained earnings. B. The companys board of directors must declare a dividend. C. Either A or B must be true, but not both. D. Both A and B must be true.