If a loss of $25,000 is incurred in selling (for cash) office equipment having a book value of $90,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is:

a) 65,000 b) 90,000 (NOT CORRECT ANSWER) c) 115,000 d) 25,000

Which of the following would be subtracted from net income using the indirect method?

a) Depreciation Method (NOT CORRECT ANSWER) b) an increase in accounts recievable c) an increase in accounts payable d) a decrease in prepaid expenses

Blitzen Corporation had net income of $500,000 and paid dividends to common stockholders of $40,000 in 2014. The weighted average number of shares outstanding in 2014 was 60,000 shares. Blitzen Corporation's common stock is selling for $50 per share on the New York Stock Exchange. Blitzen Corporation's payout ratio for 2014 is:

a) $8.33 per share b) 8% c) 12% d) 16 % (NOT CORRECT ANSWER)

MECHE Company reports income before income taxes of $2,500,000 and had an extra-ordinary loss of $800,000. If the tax rate is 35%?

a) the income before the extraordinary item is $1,190,000 b) the extraoridinary loss would be reported on the income statement at $800,000 (NOT CORRECT ANSWER) c) the income before the extraordinary item is $1,625,000 d) the extraoridinary loss would be reported at $280,000