Waldorf Co. had the following transactions during the month of October 2014:
Cash received from bank loans was $60,000.
Dividends of $18,500 were paid to stockholders in cash.
Revenues earned and received in cash amounted to $100,500.
Expenses incurred and paid were $78,000.
13. Required information
Refer to the information above. What amount of net income will be reported on an income statement for the month of October?
$18,500.
$22,500.
$78,000.
$100,500.
14. Required information
Refer to the information above. At the beginning of October, owners' equity in Waldorf was $480,000. Given the transactions of October, 2014, what will be the owners' equity at the end of the month?
$480,000.
$484,000.
$502,500.
$580,500.
15. Required information
Refer to the information above. For the month of October, net cash flows from operating activities for Waldorf were:
$18,500.
$22,500.
$78,000.
$100,500.