Complete the requirements for each of the following independent cases:

The following represents selected data from recent financial statements of Dr Pepper Snapple Group:

DR PEPPER SNAPPLE GROUP, INC. Consolidated Balance Sheets (partial)
(in millions)	December 31, 2014					December 31, 2013
Assets
Current assets:
Cash and cash equivalents		$	215				$	66
Accounts receivable (net of allowances of $11 and $18, respectively)			527					542

Consolidated Statements of Income (partial)
	For the Year Ended December 31
(In millions)	2014			2013			2012
Net sales	$	5,750		$	5,626		$	5,624
Net income	$	720		$	645		$	650

Case D. Stewart Company reports the following inventory records for November:

INVENTORY
Date	Activity	# of Units	Cost/Unit
November 1	Beginning balance	150	$	16
November 4	Purchase	310		17
November 7	Sale (@ $56 per unit)	200
November 13	Purchase	505		19
November 22	Sale (@ $56 per unit)	525

Selling, administrative, and depreciation expenses for the month were $15,200. Stewarts tax rate is 40 percent.

1. Calculate the cost of ending inventory and the cost of goods sold under each of the following methods using periodic inventory system: (Do not round intermediate calculations.)

2-a. What is the gross profit percentage under the FIFO method? (Round your percentage answer to 2 decimal places (i.e. 0.1234 should be entered as 12.34).)

2-b. What is net income under the LIFO method?

3. Stewart applied the lower of cost or market method to value its inventory for reporting purposes at the end of the month. Assuming Stewart used the FIFO method and that inventory had a market replacement value of $17.80 per unit, what would Stewart report on the balance sheet for inventory?

Case E. Matson Company purchased the following on January 1, 2016:

Office equipment at a cost of $56,000 with an estimated useful life to the company of three years and a residual value of $16,800. The company uses the double-declining-balance method of depreciation for the equipment.

Factory equipment at an invoice price of $828,000 plus shipping costs of $23,000. The equipment has an estimated useful life of 115,000 hours and no residual value. The company uses the units-of-production method of depreciation for the equipment.

A patent at a cost of $403,000 with an estimated useful life of 13 years. The company uses the straight-line method of amortization for intangible assets with no residual value.

The company's year ends on December 31.

1-a. Prepare a partial depreciation schedule of office equipment for 2016, 2017, and 2018. (Do not round intermediate calculations.)

1-b. Prepare a partial depreciation schedule of factory equipment. The company used the equipment for 9,000 hours in 2016, 10,200 hours in 2017, and 9,900 hours in 2018. (Do not round intermediate calculations.)

2. On January 1, 2019, Matson altered its corporate strategy dramatically. The company sold the factory equipment for $714,900 in cash. Prepare the entry related to the sale of the factory equipment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

3. On January 1, 2019, when the company changed its corporate strategy, its patent had estimated future cash flows of $277,000 and a fair value of $253,000. What would the company report on the income statement (account and amount) regarding the patent on January 2, 2019?