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McDaniel,Inc Use the Direct Method to Compute the Payments Made to Flows.Refer

question 63

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McDaniel,Inc.uses the direct method to prepare its statement of cash flows.Refer to the following financial statement information for the year ended December 31,2017: $McDaniel,Inc.uses the direct method to prepare its statement of cash flows.Refer to the following financial statement information for the year ended December 31,2017: \begin{array}{c} \text {McDaniel, Inc.}\\ \text {Income Statement}\\ \text {December 31, 2017 and 2016}\\\begin{array}{|l|r|l|} \hline & 2017 & 2016 \\ \hline \text { Sales Revenue } & \$ 289,600 & \\ \hline \text { Interest Revenue } & 2,600 & \\ \hline \text { Gain on Sale of Plant Assets } & 6,000 & \\ \hline \text { Total Revenues and Gains } & & \$ 298,300 \\ \hline \text { Cost of Goods Sold } & 146,800 \\ \hline \text { Salaries and Wages Expense } & 47,500 \\ \hline \text { Depreciation Expense - Plant Assets } & 16,000 \\ \hline \text { Other Operating Expense } & 24,700 \\ \hline \text { Interest Expense } & 3,500 \\ \hline \text { Income Tax Expense } & \text { 7,800 } \\ \hline \text { Total Expenses } & & 246,300 \\ \hline \text { Net Income } & & \$ 52,000 \\ \hline \end{array}\end{array} Use the direct method to compute the payments made to employees.(Accrued Liabilities relate to other operating expense. ) A) $72,200 B) $43,500 C) $24,700 D) $47,500$ $\begin{array}{c}\text {McDaniel, Inc.}\\\text {Income Statement}\\ \text {December 31, 2017 and 2016}\\\begin{array}{|l|r|l|}\hline & 2017 & 2016 \\\hline \text { Sales Revenue } & \$ 289,600 & \\\hline \text { Interest Revenue } & 2,600 & \\\hline \text { Gain on Sale of Plant Assets } & 6,000 & \\\hline \text { Total Revenues and Gains } & & \$ 298,300 \\\hline \text { Cost of Goods Sold } & 146,800 \\\hline \text { Salaries and Wages Expense } & 47,500 \\\hline \text { Depreciation Expense - Plant Assets } & 16,000 \\\hline \text { Other Operating Expense } & 24,700 \\\hline \text { Interest Expense } & 3,500 \\\hline \text { Income Tax Expense } & \text { 7,800 } \\\hline \text { Total Expenses } & & 246,300 \\\hline \text { Net Income } & & \$ 52,000 \\\hline\end{array}\end{array}$ Use the direct method to compute the payments made to employees.(Accrued Liabilities relate to other operating expense. )

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Definitions:

Mean-Variance Efficient

A portfolio optimization strategy that aims to achieve the highest return for a given level of risk, or the lowest risk for a given level of return, based on mean (average return) and variance (risk).

Single-Index Structure

A model that describes the returns of stocks based on a singular market index, explaining stock movements with overall market movements.

Covariances

A measure of the degree to which two variables move in relation to each other.

Mean-Variance Efficient

A portfolio construction strategy that aims to achieve the highest expected return for a given level of risk by optimizing the mix of investments.