Which of the basic financial statements is best used to answer questions about changes in owner's equity that are not explained by the income statement?

In a relational database designed according to the REA model, where is information about transactions stored?

A) Resource entities. B) Agent entities. C) Event entities. D) All of the above.

The women's shoe department shows gross sales of $260,000 with the cost of the shoes $140,000. The men's shoe department shows gross sales of $170,000 with the cost of the shoes $110,000. What is the gross profit for each department respectively?

A) $430,000 and $250,000 B) $90,000 and $30,000 C) $120,000 and $60,000 D) $390,000 and $310,000