The Diversified Portfolio Corporation provides investment advice to customers. A condensed income statement for the year ended December 31, 2021, appears below:
Service revenue $ 1,220,000
Operating expenses 900,000
Income before income taxes 320,000
Income tax expense 80,000
Net income $ 240,000
The following balance sheet information also is available:
12/31/2021 12/31/2020
Cash $ 455,000 $ 90,000
Accounts receivable 160,000 120,000
Accrued liabilities (for operating expenses) 110,000 80,000
Income taxes payable 30,000 55,000
In addition, the following transactions took place during the year:
a. Common stock was issued for $140,000 in cash.
b. Long-term investments were sold for $70,000 in cash.
c. The original cost of the investments also was $70,000. $100,000 in cash dividends was paid to shareholders.
d. The company has no outstanding debt, other than those payables listed above.
e. Operating expenses include $50,000 in depreciation expense.
Required:1. Prepare a statement of cash flows for 2021 for the Diversified Portfolio Corporation. Use the direct method for reporting operating activities. (Amounts to be deducted should be indicated with a minus sign.)

Which of the following statements is true? a. financial investment refers to the creation and expansion of business enterprisesb. economic investment refers to the creation and expansion of business enterprisesc. economic investment refers to the purchase of assets such as stocks, bonds, and real estated. both economic and financial investment refer to the purchase of assets such as stocks, bonds, and real estate

Gino's restaurant is a popular restaurant in boston, massachusetts. the owner of the restaurant has been trying to better understand costs at the restaurant and has hired a student intern to conduct an activity-based costing study. the intern, in consultation with the owner, identified the following major activities: activity cost pool activity measure serving a party of diners number of parties served serving a diner number of diners served serving drinks number of drinks ordered some costs, such as the cost of cleaning the linens that cover the restaurant's tables, vary with the number of parties served. other costs, such as washing plates and glasses, depends on the number of diners served or the number of drinks served. data concerning these activities are shown below. serving a party serving a dinner serving drinks total total cost $47,600 $153,000 $59,800 $260,400 total activity 7,000 parties 30,000 diners 46,000 drinks prior to the activity-based costing study, the owner knew very little about the costs of the restaurant. she knew that the total cost for the month was $260,400 and that 30,000 diners had been served. therefore, the average cost per diner was $8.68.required: 1. compute the activity rates for each of the three activities 2. according to the activity-based costing system, what is the total cost of serving each of the following parties of diners? a. a party of four diners who ordered three drinks in total b. a party of two diners who do not order any drinks c. a lone diner who orders two drinks 3. convert the total costs you computed in part (1) above to costs per diner. in other words, what is the average cost per diner for serving each of the following parties: a. a party of four diners who order three drinks in total b. a party of two diner who do not order any drinks c. a lone diner who orders two drinks 4. why do the costs per diner for the three different parties differ from each other and from the overall average coast of $9.80 per diner?

Tina is applying for the position of a daycare assistant at a local childcare center. which document should tina send with a résumé to her potential employer? a. educational certificate b. work experience certificate c. cover letter d. follow-up letter