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Newark Company has provided the following information: - Cash sales, $500,000 - Credit sales, $1,400,000...

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Accounting

imageimage Newark Company has provided the following information: - Cash sales, $500,000 - Credit sales, $1,400,000 - Selling and administrative expenses, $380,000 - Sales returns and allowances, $95,000 - Gross profit, \$1,410,000 - Increase in accounts receivable, $60,000 - Bad debt expense, $38,000 - Sales discounts, $48,000 - Net income, $1,030,000 How much are Newark's net sales? Multiple Choice $1,757,000. $1,840,000. $1,900,000. $1,719,000. Alpha Company issued 3,500 shares of $10 par value common stock to stockholders, in exchange for $52,500 cash. Which of the following correctly describes the impact of this ransaction on Alpha's financial statements? Multiple Choice Stockholders have invested $87,500 as stockholders' equity. A $52,500 investment is reported as a long-term investment. Common stock is reported at $52,500 in stockholders' equity. Additional paid-in capital of $17,500 is reported in stockholders' equity

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