Golden Enterprises started the year with the following: Assets $107,000; Liabilities $37,000; Common Stock $67,000; Retained Earnings $3,000. During the year the company earned revenue of $5,700, all of which was received in cash, and incurred expenses of $3,350, all of which were unpaid as of the end of the year In addition, the company paid dividends of $1,700 to owners. Assume no other activities occurred during the year What was the amount of Golden's net income for the year?

Multiple Choice
A. $1,700
B. $2,350
C. $5,700
D. $3,350

Elephant, inc.'s cost of goods sold for the year is $2,000,000, and the average merchandise inventory for the year is $129,000. calculate the inventory turnover ratio of the company. (round your answer to two decimal places.)

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Aproject currently generates sales of $14 million, variable costs equal 50% of sales, and fixed costs are $2.8 million. the firm’s tax rate is 40%. assume all sales and expenses are cash items. (a). what are the effects on cash flow, if sales increase from $14 million to $15.4 million? (input the amount as positive value. enter your answer in dollars not in (b) what are the effects on cash flow, if variable costs increase to 60% of sales? (input the amount as positive value. enter your answers in dollars not in millions). cash flow (increase or decrease) by $