Use the following information for the next four questions:

What is the cash flow from operating activities for 2018 (use negative number for cash outflow and positive number for net cash inflow)

What is the cash flow from investing activities for 2018 (use negative number for cash outflow and positive number for net cash inflow)

What is the cash flow from financing activities for 2018 (use negative number for cash outflow and positive number for net cash inflow)

What is the ending cash balance for 2018?

The following is from the 2018 annual report of Kaufman Chemicals, Inc.:

Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders' equity as follows:

Required:
4. From the information provided, determine how Kaufman calculated the $83 million accumulated other comprehensive income in 2018. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

On June 30, 2018, Georgia-Atlantic, Inc., leased warehouse equipment from Builders, Inc. The lease agreement calls for Georgia-Atlantic to make semiannual lease payments of $463,866 over a 4-year lease term, payable each June 30 and December 31, with the first payment at June 30, 2018. Georgia-Atlantic's incremental borrowing rate is 11.0%, the same rate Builders used to calculate lease payment amounts. Builders manufactured the equipment at a cost of $2.6 million. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Required:
1. Determine the price at which Builders is “selling” the equipment (present value of the lease payments) at June 30, 2018.
2. What amounts related to the lease would Builders report in its balance sheet at December 31, 2018 (ignore taxes)?
3. What amounts related to the lease would Builders report in its income statement for the year ended December 31, 2018 (ignore taxes)?

On June 30, 2018, Georgia-Atlantic, Inc., leased warehouse equipment from Builders, Inc. The lease agreement calls for Georgia-Atlantic to make semiannual lease payments of $545,210 over a 4-year lease term, payable each June 30 and December 31, with the first payment at June 30, 2018. Georgia-Atlantic's incremental borrowing rate is 10.0%, the same rate Builders used to calculate lease payment amounts. Builders manufactured the equipment at a cost of $3.2 million. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Determine the price at which Builders is “selling” the equipment (present value of the lease payments) at June 30, 2018. 2. What amounts related to the lease would Builders report in its balance sheet at December 31, 2018 (ignore taxes)? 3. What amounts related to the lease would Builders report in its income statement for the year ended December 31, 2018 (ignore taxes)?

Please show steps in the calculation. Please make sure you include checking conditions for using the CLT.

The Human Resources (HR) Department of a certain college has asked all employees who were employed in 2018 to fill out a survey in December 2018. Three items on the survey were: “Your dental expense in 2018”, “Are you in a family with at least three other family members?”, and “Your medical expenses in 2018”. The manager of HR has randomly selected a sample of 169 surveys. Found that the sample average dental expense is $1600 per person with the sample standard deviation is $500. 70 of them are in a family of at least three other members. Also, the sample average medical expense is $2,450 per person and the sample standard deviation is $700.

1. The statistical inference will be made in parts (b), (c) and (d). Please clearly state the three parameters of interest.
2. Provide a 99% interval estimate of the average dental expenses per employee who was employed in the year 2018. please interpret your answer.

Janes Company provided the following information on intangible assets:

1. A patent was purchased from the Lou Company for $1,300,000 on January 1, 2016. Janes estimated the remaining useful life of the patent to be 10 years. The patent was carried on Lou’s accounting records at a net book value of $470,000 when Lou sold it to Janes.
2. During 2018, a franchise was purchased from the Rink Company for $620,000. The contractual life of the franchise is 10 years and Janes records a full year of amortization in the year of purchase.
3. Janes incurred research and development costs in 2018 as follows:

4. Effective January 1, 2018, based on new events that have occurred, Janes estimates that the remaining life of the patent purchased from Lou is only five more years.

Required:
1. Prepare the entries necessary for years 2016 through 2018 to reflect the above information.
2. Prepare a schedule showing the intangible asset section of Janes’s December 31, 2018, balance sheet.

Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country of Camerrand. The denomination of all transactions with these companies is alaries (AL), the Camerrand currency. During 2017, Benjamin acquires 20,000 widgets at a price of 8 alaries per widget. It will pay for them when it sells them. Currency exchange rates for 1 AL are as follows: September 1, 2017 $0.46 December 1, 2017 0.44 December 31, 2017 0.48 March 1, 2018 0.45 Assume that Benjamin acquired the widgets on December 1, 2017, and made payment on March 1, 2018. What is the effect of the exchange rate fluctuations on reported income in 2017 and in 2018? Assume that Benjamin acquired the widgets on September 1, 2017, and made payment on December 1, 2017. What is the effect of the exchange rate fluctuations on reported income in 2017? Assume that Benjamin acquired the widgets on September 1, 2017, and made payment on March 1, 2018. What is the effect of the exchange rate fluctuations on reported income in 2017 and in 2018?

McCombs Contractors received a contract to construct a mental health facility for $2,500. Construction was begun in 2017 and completed in 2018. Cost and other data are presented below:

                                                                        2017                2018

Costs incurred during the year                           $1,500               $1,300

Estimated costs to complete                                1,200                        0

Billings during the year                                      1,200                  1,300

Cash collections during the year                          1,000                  1,500

1. Compute the amount of revenue and gross profit recognized during 2017 and 2018.

2. Assume that McCombs recognizes revenue on this contract over time according to percentage of completion. Prepare all journal entries for 2017 and 2018 to record costs, billings, collections, profit (loss) recognition, and transferring of the asset when construction is complete. Round your answers to the nearest whole dollar.

3. Assume that McCombs recognizes revenue upon project completion according to the percentage of completion. Prepare all journal entries for 2017 and 2018 to record costs, billings, collections, and profit (loss) recognition, and transferring of the asset when construction is complete. Round your answers to the nearest whole dollar.

Corporation purchased 4,000 of the 400,000 outstanding shares of I-Water Company. Boom Beverage accounts for the investment using the FAIR VALUE method.  

• On April 4, 2018, Corporation purchased 4,000 shares of Water Company common stock for $60 per share.
• During 2018, Water Company’s net income was $1,200,000, and the company declared and paid a $1.00 per share cash dividend.
• On December 31, 2018, Water Company stock was trading at $57 per share.
• During 2019, Water Company’s net income was $1,400,000, and the company declared and paid a $1.20 per share cash dividend.
• On December 31, 2019, Water Company stock was trading at $62 per share.
• On October 19, 2020, Corporation sold its entire investment in Water Company for $65 per share.

Balance Sheet - Investments:

As of December 31, 2018: __________________

As of December 31, 2019: __________________

As of December 31, 2020: __________________

Income Statements - Investment Income/(Loss),net:

Year Ended December 31, 2018: __________________

Year Ended December 31, 2019: __________________

Year Ended December 31, 2020: __________________

McCombs Contractors received a contract to construct a mental health facility for $2,500. Construction was begun in 2017 and completed in 2018. Cost and other data are presented below:

                                                                        2017                2018

Costs incurred during the year                           $1,500               $1,300
Estimated costs to complete                                1,200                        0
Billings during the year                                      1,200                  1,300
Cash collections during the year                          1,000                  1,500

1.Compute the amount of revenue and gross profit recognized during 2017 and 2018.

2.Assume that McCombs recognizes revenue on this contract over time according to percentage of completion. Prepare all journal entries for 2017 and 2018 to record costs, billings, collections, profit (loss) recognition, and transferring of the asset when construction is complete. Round your answers to the nearest whole dollar.

3.Assume that McCombs recognizes revenue upon project completion according to the percentage of completion. Prepare all journal entries for 2017 and 2018 to record costs, billings, collections, and profit (loss) recognition, and transferring of the asset when construction is complete. Round your answers to the nearest whole dollar.