We report dividends received as a financing activity.

On December 2, Coley Corporation acquired 1,000 shares of its $2 par value common stock for $27 each.On December 20, Coley Corporation resold 400 shares for $15 each. Which of the following is correct regarding the journal entry for the resold shares?

Crossroads Mall had 100,000 outstanding shares of common stock. On June 16, 2024, Crossroads bought back 20,000 shares of its own stock at $30 per share. On July 23, 2024, Crossroads resold 10,000 shares at $28 per share. What was the net effect on the balance sheet as a result of the two treasury stock transactions?

King Sporting Goods reports net income of $100,000, net sales of $500,000, and average assets of $1,000,000. The return on assets is:

Sitewide Company’s net income was $250,000. Given the account information below, what is the net cash flows from operating activities for Sitewide? Increase in accounts receivable$ 60,000Increase in salaries payable50,000Decrease in inventory30,000Depreciation expense45,000Increase in prepaid insurance3,000

A low inventory turnover ratio usually is a positive sign and indicates that inventory is selling quickly.

We use vertical analysis for income statement accounts, but not balance sheet accounts.

Which of the following behaviors is likely to experience spontaneous recovery during extinction? 

Excerpts from Nationwide Company’s December 31, 2024 and 2023, financial statements are presented below: 20242023Accounts receivable$ 82,000$ 78,000Inventory86,00077,000Net sales450,000381,000Cost of goods sold260,000219,000Total assets830,000785,000Total stockholders’ equity490,000455,000Net income70,00052,000 What is the profit margin for 2024?Note: Round your answer to one decimal place.

When we resell treasury stock, we report the difference between its cost and the cash received as an increase or a decrease in additional paid-in capital.