Universal Company reported revenue in its income statement for the year of $420,000. The beginning and ending balances of accounts receivable, gross were $42,000 and $50,400, respectively. What amount would be reported as cash receipts from customers in the operating activities section of the statement of cash flows using the direct method

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.