Which one of the following is not correct?

Select one:

A. For debt issued at par: interest expense reported on the income statement equals the cash paid for interest.

B. For bond repurchases: Gain (loss) on bond repurchase = Net book value of bonds Cash paid to repurchase bonds.

C. For debt issued at a discount: interest expense reported on the income statement equals cash interest payment less amortization of the discount.

D. For debt issued at a premium, interest expense reported on the income statement equals cash interest payment less amortization of the premium.

E. None of the above

2)

Abbott Laboratories has a defined benefit retirement plan. The companys 2016 annual report includes the following excerpt about these plans (in millions):

Projected benefit obligations, January 1, 2016	$15,640
Service cost benefits earned during the year	526
Interest cost on projected benefit obligations	576
Actuarial losses (gains)	1,290
Benefits paid	(484)
Other, including foreign currency translation	(514)
Projected benefit obligations, December 31, 2016	$17,034

Plans' assets at fair value, January 1, 2016	$13,544
Actual return on plan assets	1,262
Company contributions	1,164
Benefits paid	(484)
Other, including foreign currency translation	(402)
Plan assets at fair value, December 31, 2016	$15,084

What is the funded status of this plan?

Select one:

a. None of these are correct

b. The plan is overfunded by $15,084 million

c. The plan is underfunded by $17,034 million

d. The plan is underfunded by $1,950 million

e. The plan is overfunded by $1,950 million

3)

Trio Inc. reported retained earnings of $490,953 on December 31, 2017. During the year, Trio recorded net income of $135,075 and paid dividends of $57,762 . The company had no other transactions that affected retained earnings. What must retained earnings have been on December 31, 2016?

Select one:

a. $568,266

b. $413,640

c. None of these are correct.

d. $548,715

e. $57,762