Acompany has been in business for five years. as of december 31, 2008, the company had assets of $475,000 and liabilities of $200,000. after a successful year of business in 2009, the company's assets had increased by $95,000, and liabilities had increased by $40,000. while no new investments were made into the company during 2009, a dividend of $12,000 was paid to owners. based on this information, determine the company's net income for the year 2009.

The mccolls have made an offer on a new home. the home is new construction and scheduled to be completed by the end of the year. they provide a purchase deposit--a check in the amount of $40,000--to their agent, suzette. suzette, at the broker's direction, deposits the earnest money in the broker's trust fund account within two business days of receipt of the funds. did suzette follow the proper procedures? a. no, the check should not have been cashed. if a check is used as an earnest money deposit, it is to be held until acceptance of the offer. the seller must also be informed the buyer's check is being held and not negotiated. b. yes, suzette deposited the earnest money in the broker's trust fund account as directed. she also deposited the check within three business days of receipt. unless there were written instructions to hold the check until acceptance of the offer, the check may be cashed. c. no, suzette needed to deposit the earnest money in the broker's trust fund account within two days of receipt, not necessarily two business days. d. both a and c