Problem 1 (15 points) Sticky Company sells home weather stations. Its beginning inventory was 50 units at $200 per unit. During the year, Sticky made two purchases of the station: first, a 150-unit purchase at \$220 per unit, and then 100 units at $250 per unit. Ending inventory was 125 units. Determine the value of cost of goods sold and of ending inventory under each of the three different cost flow assumptions: (1) FIFO, (2) LIFO, and (3) Weighted Average. Problem 2 (15 points) Slippery Co., which had no beginning balance in its Accounts Receivable and Allowance for Doubtful Accounts in 20X4, earned $100,000 of revenue during 20X4. Customers paid cash immediately for 20% of Slippery Company's sales and Slippery Company collected $64,000 of cash from its Accounts Receivable during 20X4. Slippery Company estimates that it will be unable to collect 2% of all sales made on account, based on historical experience in the industry. Determine the net realizable value of Slippery Company's accounts receivable on the December 31, 20X4, balance sheet. Problem 3 (20 points) Soapy Company paid cash to purchase an automobile on January 1, 20X4. The car dealer gave Soapy a $1,000 cash discount off the $19,000 list price. Soapy then paid an additional $2,000 to equip the car with a more luxurious interior so it would have greater appeal to its clientele. Soapy expected the car to have a four-year useful life and a $4,000 salvage value. Soapy expected to drive the car for 100,000 miles before disposing of it. Finally, Soapy employees drove the car 30,000 / 10,000 / 40,000 / 25,000 miles during 20X4, 20X5, 20X6, and 20X7, respectively. Following the model in Week 3 Example 4, A. Prepare a depreciation schedule for the car using the straight-line method B. Prepare a depreciation schedule for the car using the units-of-activity method. Problem 4 (50 points) Find The Garden Spot: Year One in your HBSP packet. Use the Week 3 Homework Assignment Problem 4 Excel Template to do the following for Year One for The Garden Spot: - Prepare a transactions analysis for the economic events - Add transactions for any necessary adjusting entries - Prepare an income statement, statement of changes in shareholders' equity, balance sheet, and statement of cash flows