Nueva Company reported the following pretox data for its first year of operations Net sales Cost of goods available for sale Operating expenses Effective tax rate Ending inventories: If LIFO is elected IF FIFO is elected 7,410 5,720 1,638 15% 621 805 What is Nuevos net income if it elects FIFO? (Round your intermediate and final answer to the nearest whole dollar amount) Multple Choice $673 5728 857 $572 Below is information relative to an exchange of similar assets by Grand Forks Corp. Assume the exchange has commercial subst Case A Case B old Equipment Book Value Fair Value $50,800 $60,900 $39, 4e0 $34,500 Cash Paid $15,900 $ 8,800 In Case A Grand Forks would record the new equipment at Multiple Choice $66.700 $76 800 $50.800 $60.900