Daniels company reports the following year-end account balances at december 31, 2017. accounts payable $20,000 inventory $40,000 accounts receivable $40,000 land $100,000 bonds payable, long-term $250,000 goodwill $10,000 buildings $160,000 retained earnings $115,000 cash $50,000 sales revenue $500,000 common stock $100,000 supplies inventory $5,000 cost of goods sold $200,000 supplies expense $20,000 equipment $80,000 wages expense $100,000 what is daniels' net income for 2017?

Exercise 2-12 cost behavior; high-low method [lo2-3, lo2-4] speedy parcel service operates a fleet of delivery trucks in a large metropolitan area. a careful study by the company’s cost analyst has determined that if a truck is driven 120,000 miles during a year, the average operating cost is 11.6 cents per mile. if a truck is driven only 80,000 miles during a year, the average operating cost increases to 13.6 cents per mile. required: 1.& 2. using the high-low method, estimate the variable and fixed cost elements of the annual cost of truck operation. (round the "variable cost per mile" to 3 decimal places.)