Question 19 1 pts A company's income statement showed cost of goods sold was $78,000, purchases was $80,000, freight-in was $300, purchases returns was $500, and ending inventory was $11,900. The beginning inventory must have been $9,900. $10,100. $10,700. $9,200. $10,400. Question 16 1 pts The total assets and the total liabilities of a business at the beginning and at the end of the year appear below. During the year, the corporation paid cash dividends of $24,000 and the stockholders made an additional investment of $15,000. Assets Liabilities Beginning of year $395,000 $190,000 End of year 555,000 320,000 The amount of net income or net loss for the year was O net loss of $15,000. net income of $39,000. net income of $30,000. net income of $69,000. net income of $54.000. Question 23 1 pts A delivery truck was purchased for $16,000 two years ago. It has a carrying value of $12,000 and an estimated scrap value of $2,000. Assuming the use of straight-line depreciation, the truck's estimated useful life must have been eight years. fourteen years. seven years. three and one-half years. impossible to determine from these facts. Question 25 1 pts On April 5, Degas Company, a women's clothing store, purchased $15,000 of merchandise from Lula's Inc. on account, terms 2/10, n/30 FOB shipping point, with prepaid transportation costs of $500 added to the invoice. Assuming that a credit for merchandise return of $600 is granted before payment, and the invoice is paid within the discount period, what is the amount of cash received by the seller? $14,612 $14,602 14,100 $14,112 14,600