2_) The 2014 entry for accounts payable is $______.:

1)

38,500

2)

39,000

3)

39,500

4)

40,000

5)40,500

3_) The entry for cost of goods sold on a common-sized income statement in 2014 was _____%.

1)

50.82

2)

51.41

3)

52.25

4)

52.96

5) 53.33

4_) Net income in 2014 was $_________.

1)

21,870

2)

23,870

3)

24,870

4)

25,870

5)

27,870

USE THE FINANCIAL DATA BELOW TO ANSWER QUESTIONS 2-8. Category 2013 2014 Accounts payable 16,200 Accounts receivable 48,600 44,500 Accruals 24,300 16,200 Cash 81,000 98,000 Common Stock 64,800 81,000 COGS 56,700 64,800 4.050 Depreciation expense Gross fixed assets 121,500 145,800 6,400 8,100 Interest expense 40,500 60,800 Inventories Long-term debt 81,000 89,100 Net fixed assets 101,500 121,500 Notes payable 44,800 37,200 Operating expenses (excl. depr.) 12,100 16,200 Retained earnings 40,500 60,800 Sales 105,300 121,500 Taxes 4,860 6,480