31.

Santo Corporation reports net income for a fiscal year. How will that reported net income affect the investment account of a Santo investor under each of the following methods?

Select one:

a. Decrease, if the Fair Value Method is used

b. No effect, if the Fair Value Method is used

c. No effect, if the Equity Method is used

d. Decrease, if the Equity Method is used

28.Widlak Co. reported sales revenue of $4,000 on its income statement for the year ended December 31, 2025. The Accounts Receivable account decreased from $1,300 to $1,200 during 2025. The Allowance for Uncollectible Accounts increased by $100 during 2025. Bad Debt Expense for 2025 was $175. Under the cash basis of accounting, Widlak would have reported 2025 sales of:

Select one:

a. $4,175

b. $4,375

c. $3,625

d. $3,825

e. $4,025