7. On January 1 of the current year, Jimmy's Sandwich Company reported total stockholders equity of $133,000. During the current year, total revenues were $116,000 while total expenses were $105,500. Also, during the current year the company paid $40,000 in dividends. No other changes in equity occurred during the year. The change in total equity during the year was: a)An increase of $50,500 b)An increase of $83,000 c)A decrease of $29,500 d)An increase of $29,500 e)A decrease of $50,500 8. Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and were recorded in the company's books:

1. Andrea invested $13,600 cash in the business in exchange for common stock.
2. Andrea contributed $21,000 of photography equipment to the business.
3. The company paid $2,200 cash for an insurance policy covering the next 24 months.
4. The company received $5,800 cash for services provided during January.
5. The company purchased $6,300 of office equipment on credit.
6. The company provided $2,850 of services to customers on account.
7. The company paid cash of $1,600 for monthly rent.
8. The company paid $3,200 on the office equipment purchased in transaction #5 above.
9. Paid $285 cash for January utilities.

Based on this information, the balance in the cash account at the end of January would be: a)$42,750 b)$15,450 c)$12,115 d)$19,000 e)$14,965 9. On April 30, Gomez Services had an Accounts Receivable balance of $36,700. During the month of May, total credits to Accounts Receivable were $72,400 from customer payments. The May 31 Accounts Receivable balance was $30,000. What was the amount of credit sales during May? a)$79,100 b)$6,700 c)$72,400 d)$45,600 e)$65,700