29) When a company changes their inventory cost flow method to the LIFO method, it generally requires the company to retroactively restate prior financial statements to the LIFO method so they are comparable to the current year's statements. A) True B) False Select one: A B 30) At the end of the current year, California Company reported the following: Net income of $71,000 Sales of $214,000 Beginning accounts receivable of $15,000 Ending accounts receivable of $26,000 What is the amount of cash collected from customers? A) $225,000. B) $128,000. C) $203,000. D) $240,000. Select one: A B 0 D 31) For California Corporation, for the current year, Inventories decreased by $300, Accounts Payable increased by $200, and Cost of Goods Sold was $7,300. What was the amount of cash paid to suppliers? A) $7,300. B) $7,100. C) $7,000. D) $6,800. Select one: A B D 32) Nevada Co. has a patent that it has amortized on a straight-line basis since 2014, when it was acquired at a cost of $53 million at the beginning of that year. Management determined that the patent would benefit the company over a total of six years rather than the nine-year life being used to amortize its cost. The decision was made at the end of 2018 (before adjusting and closing entries). What is the appropriate patent amortization expense in 2018? A) $14.72 million. B) $7.36 million. C) $29.44 million. D) $5.89 million. Select one: A O C D