For each transaction below, write the net effect on Current Assets (CA), Total Equity (E), Gross Profit (GP), Net Income Before Taxes (NIBT), and Cash flows from operating activities (CFO).

• Write only the effect for the current period.
• Assume the company is a merchandising firm.
• If the net effect is negative, include a negative sign. If no effect, write 0.
• For CFO, positive net inflows are positive, net cash outflows are negative.
• For classifying interest expense, assume U.S. GAAP conventions.

Transaction	CA	Equity	GP	NI (pretax)	CFO
Accrued $114 of rent expense (on executive offices) which will be paid next year.	Answer	Answer	Answer	Answer	Answer
Paid suppliers $75 for inventory that was delivered last year.	Answer	Answer	Answer	Answer	Answer
Sold gift cards worth $11. Expect redemption within 1 year.	Answer	Answer	Answer	Answer	Answer
Customers buy merchandise (inventory value of $25) for $55 on store credit. Will pay next period. Ignore taxes.	Answer	Answer	Answer	Answer	Answer
Paid $15 of interest expense recognized this period.	Answer	Answer	Answer	Answer	Answer