Wendell company provided the following pertaining to its recent year of operation: • common stock with a $10,000 par value was sold for $50,000 cash.• cash dividends totaling $20,000 were declared, of which $15,000 were paid.• net income was $70,000• a 5% stock dividend resulted in a common stock distribution, which had a $5,000 par value and a $23,000 market value.• treasury stock costing $9,000 was sold for $7,000.how much did wendell's retained earnings increase during the recent year of operation? a. $32,000b. $45,000c. $29,000d.$27,000

Martinez company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 pretax financial income $873,000 $866,000 $947,000 (2017' 2018, 2019) excess depreciation expense on tax return (29,400 ) (39,000 ) (9,600 ) (2017' 2018, 2019) excess warranty expense in financial income 20,000 9,900 8,300 (2017' 2018, 2019) taxable income $863,600 $836,900 $945,700(2017' 2018, 2019) the income tax rate for all years is 40%. instructions: a. prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. b. assuming there were no temporary differences prior to 2016, indicate how deferred taxes will be reported on the 2016 balance sheet. button's warranty is for 12 months. c. prepare the income tax expense section of the income statement for 2017, beginning with the line, "pretax financial income."

An essential element of being receptive to messages is to have an open mind true or false

You are in the market for a new refrigerator for your company’s lounge, and you have narrowed the search down to two models. the energy efficient model sells for $700 and will save you $45 at the end of each of the next five years in electricity costs. the standard model has features similar to the energy efficient model but provides no future saving in electricity costs. it is priced at only $500. assuming your opportunity cost of funds is 6 percent, which refrigerator should you purchase