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In preparing a company's statement of cash flows for the most recent year on the indirect method, the following information is available: Net income for the year was $ 70,000.00 Accounts payable decreased by $ 20,000.00 Accounts receivable decreased by $ 30,000.00 Inventory increased by 10,000.00 Cash dividends paid were 20,000.00 Depreciation expenses was $ 30,000.00 $ $ Net cash provided by operating activities was: $120,000 $50,000 $90,000. $100,000. $30,000 Major Co. reported 2018 income of $300,000 from continuing operations before income taxes and a before-tax extraordinary loss of $80,000. All income is subject to a 30% tax rate. In the 2018 income statement, Major Co. would show the following line-item amounts for income tax expense and net income: $66,000 and $210,000 $90,000 and $154,000. $90,000 and $276,000. $66,000 and $220,000 Misty Company reported the following before-tax items during the current year: Sales Operating expenses Restructuring charges Extraordinary loss $900 300 150 100 Misty's effective tax rate is 40%. What is Misty's net income for the current year? $135. $245. $105 None of the amounts given are correct. On July 1, 2020, Herzog Mining lends cash and accepts a $11,000 note receivable that offers 9% interest and is due in nine months. How would Herzog record the transaction on April 1, 2021, when the borrower pays Herzog the correct amount owed? Option a Cash $11,742.50 Notes receivable $11,000 Interest revenue $742.50 Option b. Cash $11,742.50 $11,000 Notes receivable Interest revenue Interest receivable $247.50 $495.00 Option c. Cash $11,742.50 Notes receivable Interest receivable $11,000 $742.50 Option d. Cash $11,742.50 Notes Receivable $11.742.50 Option c. Cash $11,742.50 Notes receivable $11,000 Interest receivable $742.50 Option d. Cash $11,742.50 Notes Receivable $11,742.50 Option a. Option b. Optionc Option d

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