or each multiple choice question, select the one best answer and mark the appropriate box on the cantron form. After closing entries, Cash dividends and stock splits have the following effects on retained caring Stock Splits Cash Dividends Increase No change No change Decrease Decrease Decrease No change No change Cochran Corporation, Inc. has the following income statement (in millions): COCHRAN CORPORATION, INC. Income Statement For the Year Ended December 31, 2023 Net Sales $240 Cost of Goods Sold 150 Gross Profit 65 Operating Expenses $ 25 Net Income 90 Using vertical analysis, what percentage is assigned to cost of goods sold? a. 37% b. 63% c. 100% d. 50% The amount of sales tax collected by a retail store when making sales is a. a miscellaneous revenue for the store. b. a current liability. c. not recorded because it is a tax paid by the customer. d. recorded as an operating expense. Goodwill can be recorded a. when customers keep returning because they are satisfied with the company's products. b. when the company acquires a good location for its business. c. when the company has exceptional management. d. only when a company purchases another existing business. Page 1 of 10