Question 13 3 pts Jiffy Clean, Inc. has the following information for the fiscal year ended December 31, 2018. Net Income of $516,050 Preferred stock of 24,000 shares, 8%. $50 par value Common stock of 135,500 shares Determine the basic earnings per share of common stock for the 2018. 03.10 3.21 3.47 3.81 Question 14 3 pts The information contained below is for the fiscal year ended December 31, 2018. Calculate the operating income for 2018. $117.000 48.000 69.000 16.000 Cost of goods sold General and administrative expenses Net cash provided by financing activities Dividends paid Extraordinary loss from an flood, net of tax savings of $32.000 Income tax expense Other selling expenses Net sales Advertising expense Accounts payable 74.000 11.000 26.000 278,000 39,000 33,000 48,000 87,000 32,000 (26,000) Question 16 3 pts The concept of matching revenue and expense refers to the fact that: O all costs incurred in the process of earning revenue during a period are recorded as an expense in that period. expenses for a period equal the revenues for the period. O all cash disbursements during a period are subtracted from all cash receipts during the period. costs incurred in the process of earning revenue during a period are deferred and expensed in a future period. Question 17 3 pts Which of the following accounts is not included in the calculation for Gross Profit? General and selling expenses. Revenue. Net sales. Cost of goods sold