Use the Following Financial Information to Find the Entry You

question 36

Multiple Choice

Use the following financial information to find the entry you would make on an income statement for INCOME BEFORE TAXES for the year ended December 31, 2011: Gross Sales, $223,000; Sales Returns and Allowances, $11,200; Sales Discounts, $1,800; Merchandise Inventory, January 1, 2011, $67,600; Merchandise Inventory, December 31, 2011, $78,300; Net Purchases, $84,000; Freight In, $950; Salaries, $107,200; Rent, $19,500; Utilities, $1,450; Insurance, $2,150; and Income Tax, $14,900.

• A) $130,300
• B) $135,750
• C) ($9,450)
• D) $5,450

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Definitions:

Primary Appraisal

The initial evaluation process of assessing the significance of an event as stressful, positive, controllable, or irrelevant.

Coping Behaviors

Strategies or mechanisms that individuals use to manage stress or difficult situations.

Stimuli

External events or occurrences that evoke a reaction or response in organisms or systems.

Emotion-focused Coping

A strategy aimed at managing the emotions associated with stressful situations, rather than confronting the problems directly.