Current Attempt In Progress

The transactions listed below relate to Walnwright inc. You are to assume that on the date on which each of the transactions occurred,

the corporation's accounts showed only common stock $($ $$100$ par$)$ outstanding, a current ratio of $2\mathrm{.}771,$ and a substantial net income

for the year to date $($before $8$ iving effect to the transaction concerned$).$ On that date, the book value per share of stock was $$151\mathrm{.}53.$

Each numberedtransaction is to be considered completely independent of the others, andits related answer should be based on the

effect$($s$)$ of that transaction a lone. Assume that ali numberedtransactions occurred during $2026$ and that the amount involved in each

case is suthciently material ta distort reported net income if improperiy included in the determination of net income. Assume further

that each transaction was recorded in accordance with generally accepted accounting principles and, where applicable, in conformity

with the ali$-$inclusive concept of the income statement.

Select as many optlons as youderm appropriate to reflect the effect$($s$)$ of each transaction as of the date of the transaction.

In January, the board directed the write$-$off of certain patent rights that had suddenly and unexpectedly become worthless.

Increased the corporation's $2026$ net income.

Decreased the corporation's $2026$ net income.

Increased the corporation's totst rettined esnings directly $($le$.$ not vis net income$),$

Decreased the corporaton's total reta ined earnings directly.

Increased the corporation's current ratio.

Decreased the corporation's current ratio.

Increased each stockholder's proportonste share of total stockholders' equity.

Decreased each stockholder's proportionate share of total stockholders' equity.

Increased each stockholder's equity per share of stock $($book value$).$

Decreased each stockholder's equity per share of stock $($book value$).$

Had none of the foregoing effects.