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Stine Corp.'s trial balance reflected the following account balances at December 31, 2015: Accounts receivable (net) $24,000 marketable securities 6,000 Accumulated depreciation-equipment 15,000 Cash 21,000

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Stine Corp.'s trial balance reflected the following account balances at December 31, 2015: Accounts receivable (net) $24,000 marketable securities 6,000 Accumulated depreciation-equipment 15,000 Cash 21,000 Inventory 30,000 Equipment 25,000 Patent 4,000 Prepaid expenses 2,000 Land held for future business site 18,000 In Stine's December 31, 2015 statement of financial position, the current assets total is Select one: a. $83,000. b. 92,000. C. $101,000. d. $87,000. OWS For Mortenson Company, the following information is available: Cost of goods sold $340,000 Sales discounts 8,000 Income tax expense 24,000 Operating expenses 92,000 Sales revenue 500,000 In Mortenson's income statement, gross profit Select one: a. should not be reported. b. should be reported at $160,000. c. should be reported at $36,000. O d. should be reported at $152,000

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