Multiple Choice Question 108 Novak Company owns 45% interest in the stock of Bridgeport Corporation. During the year, Bridgeport pays $40000 in dividends to Novak, and reports $347000 in net income. Novak Company's investment in Bridgeport will increase Novak net income by O $18000. O $140150. O $156150. O $116150. Multiple Choice Question 56 On January 1, 2022, Sheridan Company purchased at face value, a $9000 8%, bond that pays interest on January 1. Sheridan Company has a calendar year end. The entry on January 1, 2022, is O 9000 Cash Debt Investments 9000 O 720 Interest Receivable Interest Revenue 720 720 Cash Interest Revenue 720 9000 Debt Investments Cash 9000 Multiple Choice Question 70 On January 1, Splish Brothers Inc. purchased as an investment a $5000, 10% bond for $5000. The bond pays interest on January 1. What is the entry to record the interest accrual on December 31? 250 Interest Receivable Interest Revenue 250 O 500 Debt Investments Interest Revenue 500 500 Interest Receivable Interest Revenue 500 250 Debt Investments Interest Revenue 250