QUESTION 4 Perkins Company reported the following information for the month of August: Net income = $7,500 Cost of Goods sold = $10,700 Wage Expense = $4,800 Other operating expenses = $1,200 Assuming that no other items affected Perkins Company's income statement, what was the company's revenue for August? (Enter your answer in numeric digits only, no dollar sign or commas.) QUESTION 5 A company records a journal entry that contains a debit to inventory. Which of the following could be a valid entry to complete this journal entry? O a. Credit cash. o b. Credit accounts payable (a liability indicating that the bill will be paid in the future). O c. Credit common stock. O d. Both a and b are potentially correct. QUESTION 6 The common characteristic possessed by all assets is O a. great monetary value o b. tangible nature o c. future economic benefit O d. long life