Comparative balance sheet accounts of Sharpe Company are presented below.
1. Equipment that cost $10,000 and was 60% depreciated was sold in 2012.
2. Cash dividends were declared and paid during the year.
3. Common stock was issued in exchange for land.
4. Investments that cost $35,000 were sold during the year.
5. There were no write-offs of uncollectible accounts during the year.
Sharpe’s 2012 income statement is as follows.
(a) Compute net cash provided by operating activities under the direct method.
(b) Prepare a statement of cash flows using the indirectmethod.
Using budget data, how many Apple iPhone 4’s would have to have been completed for Danshui Plant No. 2 to break even? 2. Using budget data, what was the total expected cost per unit if all manufacturing and shipping overhead (both variable and fixed) were allocated to...