Hopper, Inc. Use the information from Hopper Inc. to answer the following question(s).

			2017	2016
	Operating revenues		$1,900,000	$1,600,000
	Operating expenses		1,400,000	1,100,000
	Income taxes		200,000	200,000

10. Read the information about Hopper, Inc. Which of the following statements is the best answer regarding the companys profit margin?

	a.	The profit margin was 15.8% in 2017.
	b.	The profit margin was 15.8% in 2016.
	c.	The profit margin was 31.5% in 2017.
	d.	The profit margin was 31.5% in 2016.

13. Which pair of accounts has the same set of rules for debit and credit entries?

	a.	Common Stock (Capital Stock) and Accounts Payable
	b.	Salaries Expense and Retained Earnings
	c.	Cash and Notes Payable
	d.	Sales Revenue and Accounts Receivable

15. A trial balance is a(an)

	a.	optional financial statement used only by accountants.
	b.	financial statement which can be used in place of a balance sheet.
	c.	list of accounts and their balances taken from the chart of accounts.
	d.	document used to prove the equality of debits and credits in the general ledger.

16. If the sum of the debits and credits in a trial balance is not equal, then

	a.	there is no concern because the two amounts are not meant to be equal.
	b.	the chart of accounts also does not balance.
	c.	it is safe to proceed with the preparation of financial statements.
	d.	most likely an error was made in posting journal entries to the general ledger or in preparing the trial balance.