Mcfadden, inc. has collected the following data. (there are no beginning inventories.)units produced 600 unitssales price $150 per unitdirect materials $40 per unitdirect labor $13 per unitvariable manufacturing overhead $6 per unitfixed manufacturing overhead $19,500 per yearvariable selling and administrative costs $4 per unitfixed selling and administrative costs $15,700 per yearrequired: what is the ending balance in finished goods inventory using variable costing if 450 units are sold? a.$6,000b.$8,850c.$7,950d.$2,850

Exercise 12-7 shown below are comparative balance sheets for flint corporation. flint corporation comparative balance sheets december 31 assets 2017 2016 cash $ 201,348 $ 65,142 accounts receivable 260,568 225,036 inventory 494,487 559,629 land 236,880 296,100 equipment 769,860 592,200 accumulated depreciation—equipment (195,426 ) (94,752 ) total $1,767,717 $1,643,355 liabilities and stockholders’ equity accounts payable $ 115,479 $ 127,323 bonds payable 444,150 592,200 common stock ($1 par) 639,576 515,214 retained earnings 568,512 408,618 total $1,767,717 $1,643,355 additional information: 1. net income for 2017 was $275,373. 2. depreciation expense was $100,674. 3. cash dividends of $115,479 were declared and paid. 4. bonds payable amounting to $148,050 were redeemed for cash $148,050. 5. common stock was issued for $124,362 cash. 6. no equipment was sold during 2017. 7. land was sold for its book value. prepare a statement of cash flows for 2017 using the indirect method.