Brown Company’s December 31, Year 1 balance sheet showed $1,800 cash, $200 accounts payable, $600 common stock, and $1,000 retained earnings. The company experienced the following events during year 2.
(1) On April 1, Year 2 the company paid $1,800 cash to rent office space for the coming year starting immediately.
(2) Earned $1,700 cash revenue.
(3) Paid a $300 cash dividend.
Required:
a. Based on this information, the company would report:
O $1,350 balance in a prepaid rent account on the Year 2 balance sheet.
O a $1,050 balance in retained earnings on the Year 2 balance sheet.
O a $1,700 net cash outflow from operating activities on the Year 2 statement of cash flows.
O All of the answers are correct.

For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?