Swed Help Save & Exit Sub ABC spends $50,000 this year in research and development for a new drug to cure liver damage. By the end of the year, management feels confident that the new drug will gain FDA approval and lead to higher future sales. What impact will the $50,000 spending have on this year's financial statements? srcu Multiple Choice Increase Revenues. Disabilit Decrease Revenues Increase Assets Daya 23 Increase Expenses Screen Shot 000_56.69 Next > 5 of 150 Prev Saved Help Save & Elt 5. ABC sells soccer goals to customers over the Internet. History has shown that 2% of ABC's goals will need repair under the warranty program. For the year, ABC has sold 4,000 goals and 45 have been repaired. If the estimated cost to repair a goal is $200, what would be the warranty liability at the end of the year? Numeric Response $175 Net income (in millions) Preferred stock dividends (in millions) Common shares outstanding (in millions) Stock price $25 250 $10.00 What is earnings per share (to the nearest penny)? Numeric Response Help Save Executory Contracts are generally Multiple Choice 53 Not recorded Recorded with a transaction entry Recorded with a closing entry Recorded with an adjusting entry