Question Completion Status: 20 31 60 80 90 100 110 120 130 140 150 160 175 180 19 20 21 220 235 245 255 26 270 286 290 300 31 320 QUESTION 5 Oliver Company's unadjusted book balance at June 30th is $8,800. The company's bank statement reveals bank service charges of $45. Two credit memos are included in the bank statement: one for $900, which represents a collection that the bank made for Oliver, and one for $50, which represents the amount of interest that Oliver had earned on its interest-bearing account in June. The accountant also identifies $200 in outstanding checks. Based on this information, Oliver's true cash balance is: a. $9,705. b. $9.505. c. $9,650. d. $9.795. QUESTION 26 India Company purchased a oil producing well for $12,000,000. The well was expected to produce 500,000 barrels of oil over its useful life. During 2020, the company extracted 60,000 barrels of oil. The oil was sold for $50 per barrel. Based on this information, how much net income would India report in 2020? (Hint: Need to calculate depletion expense) a. $3,000,000 b. $1.560,000. C. $1,960,000. d. $1,440,000