At december 31, year 1, kale co. had the following balances in the accounts it maintains at first state bank: checking account #101 $175,000 checking account #201 (10,000) money market account 25,000 90-day certificate of deposit, due 2/28/y2 50,000 180-day certificate of deposit, due 3/15/y2 80,000 kale classifies investments with original maturities of three months or less as cash equivalents. in its december 31, year 1, balance sheet, what amount should kale report as cash and cash equivalents? a) $200,000 b) $190,000 c) $240,000 d) $320,000

Slimwood corporation made sales of $ 725 million during 2018. of this amount, slimwood collected cash for $ 670 million. the company's cost of goods sold was $ 300 million, and all other expenses for the year totaled $ 400 million. also during 2018, slimwood paid $ 420 million for its inventory and $ 285 million for everything else. beginning cash was $ 110 million. carter's top management is interviewing you for a job and they ask two questions: (a) how much was carter's net income for 2018? (b) how much was carter's cash balance at the end of 2016? you will get the job only if you answer both questions correctly.

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.

Peter, the marketing manager of a company that manufactures church furniture, has been given the job of increasing corporate profits by five percent during the upcoming year. peter decided to give his assistant the full responsibility and authority for developing a mailing campaign to target churches in an entire state. in other words, peter has