At the end of last year, the company's assets totaled $865,000 and its liabilities totaled $742,500. During the current year, the company's total assets increased by $58,500 and its total liabilities increased by $24,250. At the end of the current year, stockholders' equity was:

$122,500.

$156,750.

$181,000.

$34,250.

The statement of cash flows shows the following information:

Cash provided by operating activities of	$	18,300
Cash used by investing activities of	$	6,600
Cash used by financing activities of	$	1,100

The beginning cash was $17,300. What is the amount of cash at the end of the period?

$35,600.

$43,300.

$6,700.

$27,900.

Jims Gymnastics Trainings operations for the month of October are summarized as follows:

A.	Provided $9,800 of training to students on account.
B.	Received $3,100 cash from students for training provided in October.
C.	Received $2,000 cash for training to be provided in November.
D.	Received $3,900 cash from students on account for training provided in September.
E.	Paid Septembers gym rental bill on account in the amount of $1,100
F.	Received Octobers rental bill of $1,200; set it aside.

Required:
a.	Calculate Net Income for October using the cash basis of accounting.

Net Income

b.

Calculate Net Income for October using the accrual basis of accounting.

Net Income