Use the Following Information for the Following Questions:
During the 2020

question 13

Multiple Choice

Use the following information for the following questions:
During the 2020 calendar year, Purple Corp. paid or collected the following items:
$\begin{array}{llcc} \text { Insurance premiums paid................... } &\$14,200 \\ \text { Interest collected................................ } &21,700\\ \text { Salaries paid....................................... } &131,300\\\end{array}$
As well, the comparative statement of financial position showed the following balances:
$\begin{array}{cccc}&\underline{ \text { December 31,2019 } }&\underline{ \text { December 31,2020} }\\ \text { Prepaid Insurance..................... } &\$1,400&\$1,500 \\ \text { Interest Receivable..................... } &2,800&2,100\\ \text {Salaries Payable.......................... } &14,700&12,900\\ \text { } &\\ \text { } &\\ \text { } &\\\end{array}$

-The interest revenue on the 2020 statement of comprehensive income was

• A) $ 22,400.
• B) $ 21,700.
• C) $ 19,600.
• D) $ 21,000.

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Definitions:

Situation Analysis

An assessment process that identifies an organization's internal strengths and weaknesses, along with external opportunities and threats in its environment.

SWOT Analysis

A strategic planning tool used to identify and understand the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.

Market Summary

A description of the current state of the market.

BCG Matrix

A strategic business tool that classifies business units or products into four categories (Question Marks, Stars, Cash Cows, Dogs) based on market growth and market share.