The following information was reported on Mulberry's Inc.'s latest balance sheet: Suppose write-offs during 2005 were $40. How much is the bad debt expense for 2005? A. $30 B. $70 C. $110 D. $460 In 2005, Nolte Distribution, Inc. had net income of $675,000. Nolte also recorded $212,000 in depreciation expense and had a loss on the sale of an asset equal to $100,000 during 2005. The company also had the following changes in its balance sheet accounts. What are cash from operations for the year ended 12/31/05? A. $675,000 B. $887,000 C. $946,000 D. $987,000 Indiana Co. began a construction project in 2016 with a contract price of $150 million to be received when the project is completed m 2018. During 2016, Indiana incurred $36 million of costs and estimates an additional $84 million of costs to complete the project. Indiana recognizes revenue over time and for this project recognizes revenue over time according to the percentage of the project that has been completed. In 2017, Indiana incurred additional costs of $58.5 million and estimated an additional $40.5 million in costs to complete the project. Indiana: A. Recognized $15 million gross profit on the project in 2017. B. Recognized $13.5 million gross profit on the project in 2017. C. Recognized $6 million gross profit on the project in 2017. D. Recognized $1.5 million gross profit on the project in 2017