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Please I need answer for the 2 questions. Thank youu Coronado Industries acquires a coal mine at a cost of $1840000. Intangible development costs total
Please I need answer for the 2 questions. Thank youu
Coronado Industries acquires a coal mine at a cost of $1840000. Intangible development costs total $368000. After extraction has occurred, Coronado must restore the property (estimated fair value of the obligation is $177000), after which it can be sold for $204000. Coronado estimates that 6000 tons of coal can be extracted. What is the amount of depletion per ton? $307 $398 $329 $364 For Sheridan Company, the following information is available: Cost of goods sold $397000 Dividend revenue 14500 Income tax expense 35000 Operating expenses 137000 Sales revenue 619000 In Sheridan's multiple-step income statement, gross profit should be reported at $64500. should not be reported. should be reported at $222000. should be reported at $236500
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