Question 15 (2 points) Your company produces a sports magazine. In 2020, it's first year in operation, it sold $169,000 of one-year subscriptions, of which only 60% had expired by December 31, 2020. In 2021, it sold $659,000 of one-year subscriptions, of which only 30% had expired by December 31, 2021. Given the above information, how much revenue would be shown on the Company's January to December 2021 Income Statement? $428,900 $416,700 $562,700 $265,300 Question 17 (2 points) Alice is planning to open up a sandwich shop. An estimate of her costs/revenues are as follows: average sales price per sandwich: $12.75; yearly rent: $12,000; monthly fixed utility bill: $800; average cost of ingredients per sandwich: $3.55; monthly labour bill (fixed): $10,500; miscellaneous fixed supplies: $1,000; misc. variable supplies: $0.60 per sandwich. Her contribution margin per sandwich is $8.40 $8.50 $8.62 $8.60 Question 14 (2 points) Over the past year Company "X" experienced the following: raised $100,000 by issuing new common shares; had a net income of $210,000; bought $610,000 of new equipment; had depreciation of $60,000; reduced inventories by $900,000; borrowed $120,000 from the bank; sold old equipment for $750,000. For the year, Company "X" raised from Financing Activities the following amount of cash: $120,000 $220,000 $100,000 $270,000 Question 10 (2 points) Your company manufactures plastic pails and uses raw liquid plastic in bulk form (which it stores in a single large tank) to make the pails. On December 31, 2019 the tank held 590 gallons of liquid plastic valued at $18,000. On January 28, 2020 it bought 10,000 gallons of raw liquid plastic for $300,000, and on September 12, 2020 it bought a further 12,000 gallons for $408,000. Note: all of these 2020 deliveries were stored in the aforementioned tank, and the company uses average costs to value inventory. On December 31st, 2020 there remained 19,000 gallons of raw liquid plastic left over in the tank. Given the above information what is the cost of raw liquid plastic that should be charged to the 2020 (Jan to Dec) Income Statement? $436,630 $392.000 $115,376 $392.508 Question 11 (2 points) Over the past year Company "X" experienced the following: raised $100,000 by issuing new common shares; had a net income of $210,000; bought $610,000 of new equipment; had depreciation of $60,000; reduced inventories by $900,000; borrowed $120,000 from the bank; sold old equipment for $750,000. For the year, Company "X" raised from Investing Activities the following amount of cash: ($140,000) $140,000 ($610,000) $610,000