Harnett Enterprises Had a Net Loss of $14,000 in 2017

question 112

Multiple Choice

Harnett Enterprises had a net loss of $14,000 in 2017.Dividends of $15,000 were declared and paid during the year and the company reported depreciation expense of $15,000.Changes in the following selected accounts occurred during the year: $$\begin{array} { l c } & \text { Increase/(Decrease) } \\ \text { Accounts receivable } & ( \$ 3,000 ) \\\text { Long-term investments } & 16,000 \\\text { Interest payable } & ( 2,000 ) \\\text { Notes payable } & 65,000 \\\text { Property, plant, and equipment } & 42,000\end{array}$$ No property, plant, and equipment items were sold during the year.How much is the company's net cash provided/(used) by financing activities?

• A)$2,000
• B)($65,000)
• C)$50,000
• D)($80,000)

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Definitions:

Amygdala

A part of the brain involved in experiencing emotions, particularly those related to survival, such as fear and aggression.

Emotional Situations

Circumstances or events that elicit strong emotional responses from individuals.

Behavioral Changes

Alterations in an individual's actions or reactions, often as a result of environmental influences, learning, or development.

Phineas Gage

A railway worker who survived a severe brain injury in the 19th century, leading to important insights into brain function and personality change.