Assume that Pacer Company's paid-in capital at the beginning of the period was exist475,000. Pacer Company's total revenues and total expenses were exist890,000 and exist550,000, respectively. A dividend of exist70,000 was declared and paid to shareholders. Pacer Company's net income is ____. a. exist340,000 b. exist250,000 c. exist390,000 d. exist405,000 Presented below is the income statement for Tiger Company. The gross profit rate for Tiger Company is ____. a. 51.2% b. 13.8% c. 23.4% d. 33.9% Common-size statements are particularly useful because ___. a. accounts are aggregated together so the same accounts can be used consistently from year to year b. dollars are converted to percentages c. they are a means of comparing one company to another company within the same industry d. the percentages can be added to and/or subtracted from one another Company B has 40,000 shares of its common stock outstanding. Company A owns 35,000 shares of Company B stock. Company A should use the ____ method to account for its investment in Company B. a. market b. equity c. cost d consolidated Depreciation is used to ____. a. establish the current market value of an asset b. allocate the original cost of an asset to particular periods or products c. accumulate funds to replace an asset d. all of these answers are correct