In each of the following cases, use the information provided about the current year operations of Ivy Company to calculate the indicated cash flow item.

Case A:Calculate cash received from dividends?Dividend revenue14,900Dividends receivable January 11,400Dividends receivable December 311,700

Case B:Calculate cash paid for dividends?Dividend payable, January 114,900Dividend payable, December 3117,000Retained Earnings January 1231,000Retained Earnings December 31270,000Profit120,000

Select one:

A.Case A = $14,600; Case B = $81,000

B.Case A = $15,300; Case B = $81,000

C.Case A = $14,600; Case B = $78,900

D.Case A = $14,900; Case B = $84,000

E.Case A = $14,900; Case B = $78,900

The financial statement impact for a company that desires to make a change in accounting policy include(s)

Select one:

A.Financial impact charged or credited (net of tax) to the opening balance of retained earnings

B.The nature and justification for the change

C.The effect of the change on current year net income

D.Retrospective restatement of prior period financial statements

E.All of these