Plough company reported net income of $180,000 for the current year. depreciation recorded on buildings and equipment amounted to $80,000 for the year. balances of the current asset and current liability accounts at the beginning and end of the year are as follows: end of year beginning of year cash $20,000 $15,000 accounts receivable 24,000 32,000 inventory 50,000 65,000 prepaid expenses 9,500 5,000 accounts payable 12,000 18,000 income taxes payable 1,600 1,200 prepare the cash flows from the operating activities section of the statement of cash flows using the indirect

In year 1, the bennetts' 25-year-old daughter, jane, is a full-time student at an out-of-state university but she plans to return home after the school year ends. in previous years, jane has never worked and her parents have always been able to claim her as a dependent. in year 1, a kind neighbor offers to pay for all of jane's educational and living expenses. which of the following statements is most accurate regarding whether jane's parents would be allowed to claim an exemption for jane in year 1 assuming the neighbor pays for all of jane's support? a.no, jane must include her neighbor's gift as income and thus fails the gross income test for a qualifying relative.b.yes, because she is a full-time student and does not provide more than half of her own support, jane is considered her parent's qualifying child.c.no, jane is too old to be considered a qualifying child and fails the support test of a qualifying relative.d.yes, because she is a student, her absence is considered as "temporary." consequently she meets the residence test and is a considered a qualifying child of the bennetts.