Please correct the answer as soon as possible.

4. At December 31, 2016, the accounting records of Tasty Foods Corporation contain the following:

Accounts payable	$16,000		Accounts receivable	$40,000
Land	$240,000		Cash	?
Capital stock	?		Equipment	$120,000
Building	$180,000		Notes payable	$190,000
Retained earnings	$160,000

If Cash is $26,000, what is the December 31, 2016 capital stock balance?

	a.	$272,000
	b.	$240,000
	c.	$220,000
	d.	$400,000

5. Harbor City Corporations end-of-year balance sheet consisted of the following amounts:

Cash	$ 15,000				Accounts receivable		$50,000
Property, plant, and equipment	70,000				Long-term debt		40,000
Capital stock	100,000				Accounts payable		20,000
Retained earnings	?			Inventory		35,000

What amount should Harbor City report on its balance sheet for total assets?

	a.	$110,000
	b.	$155,000
	c.	$170,000
	d.	$190,000

6. Which of the following include only current assets?

	a.	Accounts receivable, cash, inventory, office supplies
	b.	Cash, accounts payable, inventory, office supplies
	c.	Cash, land, accounts receivable, inventory
	d.	Accounts receivable, cash, furniture, office supplies

8. The following list contains several items that appear on an income statement.

	1.	Other revenue and expenses	5.	Net Income
	2.	Income before taxes	6.	Operating revenues
	3.	Income taxes	7.	Income from operations
	4.	Operating expenses

Select the choice that lists the items in the order they would appear on a multi-step income statement.

	a.	6, 1, 7, 4, 2, 3, 5
	b.	7, 6, 1, 4, 2, 3, 5
	c.	6, 4, 7, 1, 2, 3, 5
	d.	6, 7, 4, 1, 2, 3, 5