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Which shows the effect of transactions on liquidity metric

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Reference no: EM132588131

Problem 1: Consider the following information for Stunner Inc., and calculate its net income for the year 20Y7.

Fees earned $5,000

Miscellaneous expense $540

Rent expense $750

Wages expense $1,200

Its net income for the previous year was $3,500.

a. $6,550

b. $6,010

c. $2,800

d. $2,510

Problem 2: Consider the following transactions for Giggly Care.

Payment of dividends$1,250

Fees earned $4,500

Payment of expenses $2,750

Which of the following shows the effect of these transactions on the liquidity metric and the profitability metric of the company?

a. An increase of $1,750 in the liquidity metric and a decrease of $500 in the profitability metric

b. An increase of $500 in the liquidity metric and an increase of $1,750 in the profitability metric

c. An increase of $500 in the liquidity metric and a decrease of $1,750 in the profitability metric

d. A decrease of $500 in the liquidity metric and an increase of $1,750 in the profitability metric

Reference no: EM132588131

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