The cost of goods sold during the year was $54,000. inventories were $10,500 and $12,500 at the beginning and end of the year, respectively. accounts payable were $6,000 and $9,000 at the beginning and end of the year, respectively. using the direct method of reporting cash flows from operating activities, cash payments for merchandise total a.$60,000. b.$53,000. c.$55,000. d.$54,000.

Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities.required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.