Intangible assets are assets without physical substance or economic value

Dennis Company reported that its bonds with a par value of $50,000 and a carrying value of $57,000 are retired, resulting in a loss of $3,000. The amount to be reported under cash flows from financing activities is:

A) $ (3,000). B) $(60,000). C) $(57,000). D) $(50,000) E) Zero. This is an investing activity.

Anderson Plumbing Fixtures reported the following income statement for the year ended December 31, 2017

Anderson Plumbing Fixtures Income Statement Year Ended December 31, 2017 Sales Revenue $ 258,000 Cost of Goods Sold Beginning Merchandise Inventory $ 43,500 Net Cost of Purchases 145,000 Cost of Goods Available for Sale 188,500 Less: Ending Merchandise Inventory 38,000 Cost of Goods Sold: 150,000 Gross Profit 107,500 Operating Expenses 87,200 Net Income $ 20,300 Compute inventory turnover rate for the year. (Round to two decimal places.) Compute days' sales in inventory for the year. (Round to two decimal places.) What will be an ideal response