Accounting 2035 Pretest One Cesar Ra Name: py Date: 1. Houghton Company has the following items: common stock, $1,600,000; treasury stock S210,000; deferred income taxes, $250,000 and retained earnings, $780,000. What total amount should Houghton Company report as stockholders' equity? A) $2,590,000. B) $2,420,000. C) $1,390,000. 900 10( co $2,170,000. 2. Sauder Corporation reports the following information: Net income Depreciation expense Increase in accounts receivable Sauder should report cash provided by operating activities of A) $340,000. B) $480,000. C) $280,000. D) $420,000 $380,000 70,000 30,000 3. The income statement reveals A) B) C) D) net earnings (net income) of a firm at a point in time. resources and equities of a firm at a point in time. net earnings (net income) of a firm for a period of time. resources and equities of a firm for a period of time. 4. Big-Mouth Frog Corporation had revenues of $330,000, expenses of $200.000, and dividends of $45,000. When Income Summary is closed to Retained Earnings, the amount of the debit or credit to Retained Earnings is a D credit of $85,000. B) credit of $130,000. C) debit of $130,000. D) debit of $85,000. Page 1