Delta Company did not hold any tablet computers in inventory at the beginning of December. On December 3, the Company purchased 130 tablets for 525 each. By the end of the month, the business had sold 50 of these units for $40 each. What amount of gross profit should the company record on these transactions? QUESTION 40 Compute the amount of liabilities: Assets - 570,000 Stockholders' Equity - 535.000 QUESTION 41 Land originally listed for sale by its owner at 310,000 is purchased by Smolowitz Corporation for $280,000. The land has an assessed value for real estate tax purposes of 5319.000. A very similar piece of land in the neighborhood recently sold for $318,000. What value should Smolowitz use to record this land in the company's accounting records QUESTION 42 Corey Technical Products, an online retailer, had the following purchase and sales activity for a particular inventory Item during the month of August Units Cost 1 Aug. 1 - Inventory Aug, 19. Purchase Aug 21 - Purchase 5120 $15 5138 1 Selling Price Aug. 26 - Sale $ 200 if Corey Technical Products uses the first-in-Airst-out inventory costing method, what amount of coss.ee from sales will the company report for these transactions