Given below is a partially completed financial statement, related to the month of August 2012 for Green Acres Inc., which operates a golf course in Noworthen, MN

Sales	$32,000
Operating Expenses
"A"
"B"
Operating Income	12,000
Other Revenues (Expenses) & Gains (Losses)
"C"	?
"D"
Income Before Taxes	$10,000
"E"	?
Net Income	$8,800

1. What is the amount of income tax expense that would be included in the above statement?

A. $10,000 B. $1,200

C. $500

D. cannot be determined

2. Which one of the following items would most likely appear as letter "A" in the above statement?

A. Unearned revenue

B. Wages expense

C. Interest expense D. Inventory

3. Which one of the following items would most likely appear as letter "C" in the above statement? A. Loss on Sale of Equipment

B. Unearned Revenue

C. Fertilizer Expense

D. Income Tax Expense

4. If dividends had been paid during August by Green Acres, Inc., on which line in the statement above would these dividends have been most likely to appear?

A. "B"

B. "D"

C. "E"

D. none of the above