Net income plus operating expenses to equal to a. sales b. gross profit c. cost of merchandise d. cost of merchandise sold The process of transferring the debits and credits from the journal entries to the accounts is called a. journalizing b. posting c. sliding d. transposing The percentage analysis of increases and decreases in individual items in comparative financial called a. vertical analysis b. profitability analysis c. solvency analysis d. horizontal analysis The net income reported on the income statement for the current year was $275,000. fixed assets and amortization of patents for the year were $40,000 and $9,000, respectively. asset and current liability accounts at the end and at the beginning of the year are as follows: What is the amount of cash flows from operating activities reported on the statement the indirect method? a. $296,000 b. $352,000 c. $324,000 d. $198,000 A characteristic of a fixed asset is that it is a. used in the operations of a business b. a short-term investment c. held for sale in the ordinary course of the business d. intangible