On January 1, 2020, Perkins Incorporated issued 2,000 of its 9%, $1,000 bonds for $2,048,000. Bond issue costs were $12,000. These bonds were to mature on January 1, 2030 but were callable at 103 any time after December 31, 2023. Interest was payable semi-annually on July 1 and January 1. On May 1, 2024, Perkins called all the bonds and retired them with interest. Perkins uses the straight-line method for amortization of bond premiums and discounts. Assuming all previous entries have been properly recorded, Perkins will record the following gain or loss on the bond retirement: a. $211,000
b. $200,000
c. $206,000
d. $201,000
e. none of above

Expert computers was started in 2018. the company experienced the following accounting events during its first year of operation: started business when it acquired $40,000 cash from the issue of common stock. purchased merchandise with a list price of $32,000 on account, terms 2/10, n/30. paid off one-half of the accounts payable balance within the discount period. sold merchandise on account for $28,000. credit terms were 1/20, n/30. the merchandise had cost expert computers $16,000. collected cash from the account receivable within the discount period. paid $2,100 cash for operating expenses. paid the balance due on accounts payable. the payment was not made within the discount period. required record the events in a horizontal statements model below. in the cash flows column, use the letters oa to designate operating activity, ia for investing activity, fa for financing activity, or nc for net change in cash. if the account is not affected by the event, leave the cell blank. the first event is recorded as an example. what is the amount of gross margin for the period? what is the net income for the period?

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