a) $30,000 b) $260,000 Oc) $250,000. d) $160,000 Question 3 (3 points) Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 100,000 shares of $5 par value common stock. During 2021, Roberto had the following transactions relating to stockholders' equity: Issued 10,000 shares of common stock at $7 per share. Issued 20,000 shares of common stock at $8 per share. Reported a net income of $100,000. Paid dividends of $50,000. Purchased 3,000 shares of treasury stock at $10 (part of the 20,000 shares issued at $8). What is total stockholders equity at the end of 2021? a) $250,000 Ob) $270,000 OC) $300,000 d) $200,000. Question 4 (3 points) Western Wear reports net income and sales for the year of 565,000 and $1,300,000, respectively. Return on equity is 10%. What is Western Wear's average Stockholders' Equity for the year? a) $650,000 Ob) $682,500 O C) $13,000,000 d) 5%. Question 5 (3 points) Financial information for Accessories Unlimited includes the following selected data: Dividends (in millions) $ 75 Shares outstanding (in millions) 300 Stock price $ 20.00 What is the company's dividend yield? a) 2.5%. Ob) 10.0% Oc) 125% d) 5.0% Question 6 (3 points) Using a perpetual inventory system, how should a company record the sale of inventory costing $720 for $1130 on account? - 1130 1. Accounts Receivable Sales Renrenue Cost of Goods Sold Inventory Inventory Cost of Goods Sold Sales Revenue Accounts Receivable Inventory Gain Sales Revenue Accounts Receivable Sales Revenues Gam a) Option 1 Ob) Option 2 c) Option 3 d) Option 4 Question 7 (3 points) On January 1, 2021, Faisal Freight purchased equipment for 562,000 and uses the straight-line depreciation method. The equipment has a useful life of eight years and an estimated residual value of $8,000 On December 31, 2022, the equipment was exchanged for a new piece of equipment valued at $60,000 Faisal received a trade allowance of $42,000 on the exchange with the remaining $18,000 paid in cash. What amount of gain or loss should Faisal Freight record on December 31, 2022