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SEASIDE CORPORATION Income Statement For the Year Ended December 31, 2014 Moving revenue $450,000 Gain on Sale of Vehicle 5,000 Total revenues $455,000 Expenses: Depreciation
SEASIDE CORPORATION Income Statement For the Year Ended December 31, 2014 Moving revenue $450,000 Gain on Sale of Vehicle 5,000 Total revenues $455,000 Expenses: Depreciation expense 59,500 Wage expense 134,000 Vehicle maintenance expense 102,400 Interest expense 5,400 301,300 Net income $153,700 Additional data: (1) A vehicle originally costing $65,000 was sold for $15,000. (2) Cash dividends were paid during the year. (3) All new property, equipment and vehicle purchases were purchased with cash. Using the DIRECT method, Cash Received from customers is? (assume all revenue is on credit) O $509,000 O $324,000 O $365,000 $325,000 None of the above
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