Use the Following Information for Questions 51 Through 55

question 100

Multiple Choice

Use the following information for questions 51 through 55.
Harlan Mining Co. has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements of Harlan Mining Co. for 2015 and 2014 are provided below.
The following additional data were provided:
1. Dividends for the year 2015 were $144,000.
2. During the year, equipment was sold for $180,000. This equipment cost $264,000 originally and had a book value of $216,000 at the time of sale. The loss on sale was incorrectly charged to cost of sales.
3. All depreciation expense is in the selling expense category.
-Under the direct method, the cash received from customers is

---

Definitions:

Marginal Productivity

The additional output that is produced by using one more unit of a particular input, holding all other inputs constant.

Tourist Income

Revenue generated by a country or region from visitors who travel there from other areas, spending on accommodations, attractions, and other services.

Hawaiian Landowners

Individuals or entities that own land in Hawaii, often facing unique challenges and opportunities due to the state's specific legal and economic context.

Rental Price

The amount of money paid by a tenant to a landlord for the use of rental property, such as an apartment, house, or commercial space, for a specified period.