5. Which of the following statements is true? A. Sole Proprietorships have unlimited liability, unlimited life, and are taxed only once as personal income. B. Partnerships have unlimited liability, unlimited life, and are taxed only once as personal income. C. Sole Proprietorships have unlimited liability, limited life, and are taxed only once as personal income. D. Partnerships have limited liability, limited life, and are taxed only once as personal income. 6. Samson Corporation had the following financial information. Calculate the Net Income. Sales S1.000.000 Costs $550,000 Depreciation Expense $100,000 Interest Expense $50,000 Tax Rate 21% 7. Gideon Corporation had the following information. Calculate the Increase (Decrease) in spending for capital assets. Beginning Current Assets $100,000 Ending Current Assets $120,000 Beginning Fixed Assets $1,100,000 Ending Fixed Assets S1.200,000 Depreciation $95.000