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Question 53 Reporting a net income of $95,000 will O Decrease retained earnings Increase retained earnings Decrease common stock Increase common stock amewa Question 54 Assume that the Jennifer Corporation uses the indred method to depic cash flows. Indicate where at all inventory purchased with cash would be classified on the statement of cash flows. Financing actives section Do not represent a cash flow Operating act sedion Investing activities section Moving to another quest Question 55 Storage Products purchased 11,000 shares of its own 50.75 par value common stock at a cost of 58 per share on April 30,2019. The stock was original issued at 57 per share. Which of the following a part of the journey to record the purchase? Creat Common Stock for 588 000 Debit Treasury Shock for $88.000 Crean Common Stock for $8250 De Treasury Stock for 58.250