The Cardinal Company had a finished goods inventory of 55,000 units on January 1. Its projected sales for the next four months were: January - 200,000 units; February - 180,000 units; March - 210,000 units; and April - 230,000 units. The Cardinal Company wishes to maintain a desired ending finished goods inventory of 20% of the following months sales. What would be the budgeted production for

The balance of stockholders' equity at the beginning of the year and the end of the year was $50,000 and $60,000, respectively. The company issued no common stock during the year. Dividends were $20,000. What was the net income or loss for the year?

A) Net income of $80,000 B) Net loss of $80,000 C) Net loss of $30,000 D) Net income of $30,000

Which one of the following account groups normally has a debit balance?

A) assets and expenses B) revenues and expenses C) liabilities and revenues D) assets and liabilities