The following are selected transactions of Carolyn Company:

June $20$ Sold and shipped $$5,400$ merchandise on account to Patrick, Inc., terms $2/10,$ n$/30.$

$22$ Patrick, Inc. returned merchandise billed at $$1,500$ on June $20.$

$28$ Received a check from Patrick, Inc. for full settlement of the June $20$ transaction.

Record the above transactions in general journal form on the books of $($a$)$ Carolyn Company and $($b$)$ Patrick, Inc. Both companies use the periodic inventory system. Omit explanations for the journal entries.

During $2019,$ Carbondale Sanitation's total assets increased $$70,000,$ and total liabilities decreased $$40,000.$ During the same year, the company's investors invested an additional $$35,000$ and the company paid dividends of $$20,000.$

What must have been the company's net income for $2019?$

A$)$ $$75,000$

B$)$ $$95,000$

C$)$ $$100,000$

D$)$ $$110,000$

Which one of the following is not a current liability?

A$)$ Taxes payable

B$)$ Accounts payable

C$)$ Wages payable

D$)$ Wage expense