1. Accounts receivable arising from sales to customers amounted to $120000 and $105000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $457000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

2. Catalina Company reported a net loss of $15000 for the year ended December 31, 2017. During the year, accounts receivable decreased $7500, inventory increased $12000, accounts payable increased by $15000, and depreciation expense of $9000 was recorded. During 2017, operating activities

3. A company had net income of $282000. Depreciation expense is $26000. During the year, accounts receivable and inventory increased $15000 and $40000, respectively. Prepaid expenses and accounts payable decreased $2000 and $14000, respectively. There was also a loss on the sale of equipment of $17000. How much cash was provided by operating activities?

4. If $2500000 of bonds are issued during the year but $4000000 of old bonds are retired during the year, the statement of cash flows will show a(n)

5. If a gain of $225000 is incurred in selling (for cash) a building having a book value of $900000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is

6. If a loss of $9000 is incurred in selling (for cash) office equipment having a book value of $90000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is

7. Catalina Company reported net income of $200000 for the year ended December 31, 2017. During the year, inventories decreased by $40000, accounts payable decreased by $60000, depreciation expense was $45000 and a gain on disposal of equipment of $15000 was recorded. Net cash provided by operating activities in 2017 using the indirect method was

8. During 2017, Ecuyer Industries reported cash provided by operations of $794000, cash used in investing of $686000, and cash used in financing of $190000. In addition, cash spent for fixed assets during the period was $2276000. Average current liabilities were $650000 and average total liabilities were $1716000. No dividends were paid. Based on this information, what was Ecuyer's free cash flow?

9. If a company has a discontinued operation gain of $30000 and a 32% tax rate, what is the effect on net income?

10. Dandy Candy Company sold its licorice division resulting in a loss of $80000. Assuming a tax rate of 25%, the loss on this disposal will be reported on the income statement at what amount?

11. Lupton Inc. disposes of an unprofitable segment of its business. The operation of the segment suffered a $200000 loss in the year of disposal. The loss on disposal of the segment was $100000. If the tax rate is 30%, and income before income taxes was $1600000,

12. Danner Corporation reported net sales of $650000, $720000, and $780000 in the years 2016, 2017, and 2018, respectively. If 2016 is the base year, what percentage do 2018 sales represent of the base?

13.Assume the following sales data for a company:

If 2016 is the base year, what is the percentage increase in sales from 2016 to 2017?

14. Salamagundi, Inc. has the following Income Statement (in millions):

Using vertical analysis, what percentage is assigned to gross profit?

15. Cochran Corporation, Inc. has the following income statement (in millions):

Using vertical analysis, what percentage is assigned to net income?

16. A company with $60,000 in current assets and $35,000 in current liabilities pays a $1,000 current liability. As a result of this transaction, the current ratio and working capital will

both decrease.

both increase.

increase and remain the same, respectively.

remain the same and decrease, respectively.

17. Winsor Clothing Store had a balance in the Accounts Receivable account of $760000 at the beginning of the year and a balance of $840000 at the end of the year. Net credit sales during the year amounted to $7200000. The average collection period of the accounts receivable in terms of days was

18. Chodron Corporation had net credit sales of $13000000 and cost of goods sold of $9250000 for the year. The average inventory for the year amounted to $1250000. The inventory turnover for the year is

19. The current assets of Orangette Company are $292500. The current liabilities are $130000. The current ratio expressed as a proportion is

20. A company has an accounts receivable turnover of 10. The average net accounts receivable during the period are $900000. What is the amount of net credit sales for the period?

21. If the average collection period is 73 days, what is the accounts receivable turnover?

22.A company has an average inventory on hand of $90000 and its average days in inventory is 36.5 days. What is the cost of goods sold?

23. The following information pertains to Unique Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.

What is the current ratio for this company?

24. The following information pertains to Unique Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.

What is the return on assets for this company?

25. The following information pertains to Unique Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.

What is the profit margin for this company?

26.

What is the return on common stockholders' equity for this company?

27. Junebag Corporation reported net income $24000; net sales $400000; and average assets $600000 for 2017. What is the 2017 profit margin?

28. The following information pertains to Unique Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.

What is the return on assets for this company?