Question 48 (2 points) The balance of retained earnings as at December 31, 2018 after the end-of-year closing is: $849,900 $1,000,000 $829,900 $877,575 Question 49 (2 points) During the year, Marigold Corp. reported an increase in Merchandise Inventory of $25,000. Cost of Goods Sold for the year was $150,000, and there was an $8,000 decrease in Accounts Payable. What were the cash payments to suppliers during the year? $117,000 $167,000 $183,000 $133,600 Question 50 (2 points) During the year, Alfa Limited reported credit sales of $850,000. Beginning Accounts Receivable was $60,000 and ending Accounts Receivable was $140,000. What were the cash collections from customers during the year? $930,000 $850,000 $710,000 $770,000 Question 51 (2 points) The following information relates to Telfer Corporation: Prepaid insurance, December 31, 2017 $125,000 Prepaid insurance, December 31, 2018 $145,000 Insurance expense for 2018 $480,000 Telfer Corporation does not have any accrued liabilities related to its insurance expense. What was the amount of cash paid for insurance during 2018? $480,000 $460,000 $500,000 o $625,000