Please answer both questions.

1.Chase Corp. had the following infrequent transactions during 2014 A $375,000 gain from selling the only investment Chase has ever owned. A $525.000 gain on the sale of equipment. A $175,000 loss on the write-down of inventories In its 2014 income statement, what amount should Chase report as total infrequent net gains that are not considered extraordinary? a. $200,000 b. $350,000 C. $725,000 d. $900,000. Which of the following should be reported as a prior period adjustment? Change in Estimated Lives Mistakes in the Application of of Depreciable Assets Accounting Principles Yes Yes No Yes Yes No No NO