27. Using the indirect method, which of the following would be added to net income? A. A decrease in supplies. B. An increase in prepaid insurance. C. A decrease in wages payable. D. An increase in property, plant and equipment. 28. Net income was S418,600 in 2014 and $364.000 in 2013. The year-to-year percentage change in net income is closest to: A. 15%. B. 55% C. 87%. D. 13%. 29. Although the inventory turnover ratio is an important analytical tool for many companies, it would be most crucial for a company that: A. provides legal services B. sells cell phones and notebook computers. C. manufactures steel. D. sells paint. 30. During the current accounting period, revenue from credit sales is S671,000. The accounts receivable balance is $51,480 at the beginning of the period and S52,200 at the end of the period. Which of the following statements is true? A. The receivables turnover ratio is 12.9. B. On average, it takes 12.9 days to collect payment from credit customers. C. The receivables turnover ratio is 28.3. D. On average, the company sells its inventory every 283 days. 31. Company X has net sales revenue of $780,000, cost of goods sold of s343,200, and all other expenses of S327,600. The gross profit percentage is closest to: A. 32%. B. 56%. C. 86%. D. 14%