Evans Company recently reduced dividends due to a cash shortage. As a result, the company had difficulty attracting new investors. Evans Company was forced to develop a contingency plan. Which stage of the problem-solving model involves developing a contingency plan? Describe the problem Evaluate alternatives Implementation Identify alternatives Xia Company paid $40,000 for a vacant lot. The company purchased the lot to use as a corporate parking lot. Xia Company paid $10,000 to remove an old shed on the lot and paid $30,000 for outdoor lighting to illuminate the new parking lot. The shed had a $5,000 salvage value. (Xia Company sold the shed for $5,000) What is the balance of the Land Improvement account on Xia Company's balance sheet? $75,000 $30,000 $50,000 $40,000 Which item does NOT list a revenue expenditure? Cost of sales tax paid on the purchase of an underground sprinkler system Cost of repairing an underground sprinkler system Cost of an oil change Cost of replacing a shingle on a roof