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35) Income taxes to a partnership: A) Are not an obligation to each partner since a partnership does not pay tax Are an obligation of the partnership. Are an obligation to each partner based on their share of profits. Are an obligation to each partner only when cash is received 36) Partners Able and Bable are in a partnership, which earns Net Income of $151,000. Able's $89,000 from the partnership, while Bable's share is $62,000 and Bable has Drawings during the year of $24,000. How much must Bable report in his income tax return as income A)$62,000 B) $38,000. C) $89,000 D) 5151,000 37) Interest paid belongs in the operating activities section of the statement of cash flows ) False 38) The purchase of equipment for the manufacturing of inventory belongs in the operating activitics section of the statement of cash flows B) False An analysis of Korman Corporation's Investment in Marketable Securis scount dring 2015 discloed be following Debit entries $160,000 Credit entries Korman's 2015 income statement includeda $40,000 gain on sale of marketable securities and $30,000 dividend income from marketable securities. All payments and proceeds relating to marketable securities transactions were in cash. 39) Refer to the information above. The amount of cash paid by Korman Corporation in 2015 for the purchase of marketable securities was: D) $190,000 B) $240,000. C) $160,000 A) $200,000. 40) Refer to the information above. The cash proceeds received by Korman Corporation in 2015 for the sale of marketable securities was: C) $780,000 D) $240,000 B) $230,000. A) 3160,000