Sales revenue	$440,000
Advertising expense	60,000
Interest expense	10,000
Salaries expense	55,000
Utilities expense	25,000
Income tax expense	45,000
Cost of goods sold	180,000

298.What is net income?

A) $120,000. B) $65,000. C) $110,000. D) $60,000.

299. When a firm gets riskier what will happen to its bonds
     1. the stated interest rate of the bonds will go down
     2. the stated interest rate of the bonds will not change
     3. there is no definite answer
     4. the stated interest rate of the bonds will go up
300. When a company issues 25,000 shares of $1 par value common stock for $10 per share, the journal entry for this issuance would include:
     1. A credit to Common Stock for $250,000.
     2. A debit to Cash for $25,000.
     3. A debit to Additional Paid-in Capital for $25,000.
     4. A credit to Additional Paid-in Capital for $225,000.
301. Suppose Company A places an order with Company B on May 12. On May 14, Company B ships the ordered goods to Company A with terms FOB destination. The goods arrive at Company A on May 17. Company A begins selling the goods to customers on May 19 and pays Company B on May 20. When would Company B record the sale of goods to Company A?
     1. May 14. B) May 12. C) May 19. D) May 17.