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Duke Daredevils, Inc. has provided the following data (ignore income taxes): 2020 total revenues...

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Accounting

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Duke Daredevils, Inc. has provided the following data (ignore income taxes): 2020 total revenues were $220,000. 2020 total expenses were $160,000. Dividends declared and paid during 2020 totaled $5,000. Total assets at December 31, 2020 were $600,000. Total liabilities at December 31, 2020 were $350,000. Based on the information provided which of the following is true? 1. Net Book Value increased by $55,000 during 2020. ii. Net income for 2020 was $60,000. iii. Net Book Value as of December 31, 2020 is $250,000. iii only i and ii only i only ii only i, ii, and iii are true On January 1, 2020, The Minskoff Company issued $500,000, 5-year, 6% bonds for $398,614. The interest payments are paid semi-annually on June 30 and December 31. The market rate is 8%. How much interest expense will Minskoff recognize for the six months ending on June 30, 2020? Choose the closest answer. $7,500 $20,000 $31,889 $15,945 $15,000

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