Assume a company paid $800 for a computer that it plans to sell to its customers. suppose that because of new technology the company could buy the same computer today for $600. how would the lower-of-cost of market rule affect the financial statements?

multiple choice

decrease net income on the income statement

decrease common stock reported on the balance sheet

increase liabilities on the balance sheet

increase stockholders’ equity on the balance sheet

The answer is  passage 1.

$527.7.if the following was the question  $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?