The following is a balance sheet for Jim Henson Yard Service at December 31, 2014. Assets Cash $13,000 Accounts receivable 6,000 Supplies 9,000 Equipment 11,000 Total assets $39,000 Liabilities and Stockholders' Equity Liabilities Accounts payable $ 8,000 Notes payable 15,000 Stockholders' equity Common stock 16,000 Total liabilities & stockholders' equity $39,000 The following additional data are available for the following year, 2015: All expenses (excluding supplies expense) total $6,000 for the year. On January 1, 2016, supplies were $11,000, and $7,000 of supplies were purchased during the year. Net income for the year was $8,000 and dividends paid were $9,000. What is the stockholder’s equity on December 31, 2015?

The selling price of houses would be most likely to decrease if there were first a decrease in which of the following? a. new-housing construction. b. mortgage interest rates. c. the unemployment rate. d. construction workers' wages. 2b2t

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)

Because the demand for wheat tends to be inelastic. true or false