Tide, Inc. sells items over the Internet for individuals on a consignment basis. Tide, Inc. receives items from the owner, lists them for sale on the Internet, and receives a commission for any items sold. Tide, Inc. collects the full amount from the buyer and pays the net amount after commission to the owner. Tide, Inc. returns any unsold items to the owner after 120 days. During 2019, Tide, Inc. sold items for $1,350,000 on consignment, retained fees of $405,000, and incurred direct selling costs of $35,000. How much gross profit should Tide, Inc. report on its income statement for 2019? O a. $1,350,000 Ob. $1,315,000 O c. $427,500 O d. $405,000 O e. $370,000 QUESTION 16 Which of the following statements best describes other comprehensive income? O a. Income earned from diverse geographic and segment activities. b. Income earned from activities that are not part of the company's ordinary business activities. c. Income that increases stockholders' equity but is not reflected as part of net income. QUESTION 17 Gator, Inc. had net income of $1,650,000 and 500,000 common shares outstanding in 2018. The company paid $30,000 in common stock dividends and $75,000 in preferred stock dividends during the year. The company has 20,000 shares of convertible preferred stock, and each share of preferred stock can be converted into 5 shares of common stock. The company's tax rate is 30%. What was the company's diluted earnings per share (EPS) in 2018? O a. $3.30 O b. $3.15 O c. $2.90 O d. $2.75 O e. $2.625