A)

Franklin Corporation reported net income of $34,100 in 2016. The company had 55,000 shares of $10 par value common stock outstanding and a market price of $31 per share. Franklin's price-earnings ratio was

B)

Jones Company issued bonds with a $140,000 face value on January 1, 2016. The five-year term bonds were issued at 98 and had a 7.50% stated rate of interest that is payable in cash on December 31^st of each year. Jones amortizes the bond discount using the straight-line method. Based on this information:

The amount of cash outflow from operating activities shown on Jones's December 31, 2017 statement of cash flows would be: