1. Which of the following is not part of cash flow from investing?

A. Capital expenditures B. Depreciation C. Sales of long term assets D. All of the above are part of cash flow from investing.

2. It is January 1, 2015. Forecasting skills are likely to be of critical importance to NT Inc (NTI) in preparing this document.

a. NTI’s 2014 income statement

b. NTI’s 2014 proforma income statement

c. NTI’s 2015 income statement

d. NTI’s 2015 proforma income statement

e. none of (a-d) above