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Q15

Q15

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The following comparative balance sheets 2019 & 2020 and additional information for "National Company are given: Assets Dec. 31, Dec. 31, 2020 2019 Cash $312,000 $52,000 Accounts Receivable 104,000 96,000 Inventory and supplies 60,000 116,000 Investments 0 72,000 Machines 228,000 208,000 Accumulated depreciation- (56,000) (40,000) Machines Total Assets $648,000 $504,000 Liabilities & Stockholders Equity Note payable 148,000 108,000 Bonds payable (long-term) 148,000 188,000 Common Stock 160,000 88,000 Retained Earnings 192,000 120,000 Total Liabilities & Stockholders' $648,000 $504,000 Equity Income Statement & Additional information: 1. Net income for the current year ending December 31, 2020 is $116,000. uestion 6 Investing activities include the (select the best answer): O A Sale of short-term investments other than cash equivalents O B. All answers are correct O C. Sale of plant assets. O D. Purchase of plant assets