A change in the basis used in the valuation of inventories is an accounting error.

Billy Company's income statement showed the following: net income, $124,000; depreciation expense, $30,000; and gain on sale of plant assets, $14,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400; merchandise inventory increased $18,000; prepaid expenses decreased $6,200; accounts payable increased $3,400. Calculate the net cash provided or used by operating activities.

A) $139,000. B) $155,000. C) $145,800. D) $141,000. E) $167,000.

On the date of record for a dividend, the company ________

A) issues new shares of stock on that date B) disburses dividend payments to stockholders on that date C) records the dividend payable amount on that date D) determines who owns the shares of stock on that date