Silken Corp reported net income of $420,000 for 2014 . Changes occurred in several balance sheet accounts as follows: Equipment ................................. $35,000 increase Accumulated depreciation .................. 56,000 increase Note payable .............................. 42,000 increase Additional information: · During 2014, Silken sold equipment costing $35,000, with accumulated
depreciation of $16,800, for a gain of $7,000. · In December 2014, Silken purchased equipment costing $70,000 with $28,000 cash and a 12% note payable of $42,000. · Depreciation expense for the year was $72,800. In Silken's 2014 statement of cash flows, net cash used in investing activities should be
a. $30,800.
b. $16,800.
c. $2,800.
d. $49,000.
C
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American firms became less competitive compared to foreign firms during the 1980s because
A) the quality and productivity of American workers declined. B) foreign firms were younger than American firms and as a result had more modern facilities that made use of the latest technology. C) the U.S. dollar became worth more in terms of foreign currencies. D) the U.S. dollar became worth less in terms of foreign currencies.
An increase in the inflation rate will cause the demand curve for bonds to shift to the right
Indicate whether the statement is true or false