Question 35 2 pts Charley Davison Inc. produced 10,000 motorcycles last year and sold 9,000 of them each for $18,000/bike. Variable cost was $13,000/bike. Fixed cost was $25 million and it had no debt. Assume no profits tax. It paid out all profits as dividends. Which of the following are true? Choose two. a) Profits = $20 million b) Profits = $25 million c) Profits = -$13 million (loss) d) Change in cash = +$20 million e) Change in cash = -$25 million f) Change in cash = -$13 million Question 36 2 pts Preferred dividends are paid: a) from a company's revenue, similar to interest. Ob) out of profits, but before profits tax is applied O c) out of after-tax profits d) after dividends on common shares are paid