Waldorf Co. had the following transactions during the month of October 2014: * Cash received from bank loans was $60,000. * Dividends of $18,500 were paid to stockholders in cash. * Revenues earned and received in cash amounted to $100,500. * Expenses incurred and paid were $78,000.

13.

Required information

Refer to the information above. What amount of net income will be reported on an income statement for the month of October?

$18,500.

$22,500.

$78,000.

$100,500.

14.

Required information

Refer to the information above. At the beginning of October, owners' equity in Waldorf was $480,000. Given the transactions of October, 2014, what will be the owners' equity at the end of the month?

$480,000.

$484,000.

$502,500.

$580,500.

15.

Required information

Refer to the information above. For the month of October, net cash flows from operating activities for Waldorf were:

$18,500.

$22,500.

$78,000.

$100,500.