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1. Based on the balance sheets in the attached image, the firm's 2015 Statement...

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Accounting

1. image

Based on the balance sheets in the attached image, the firm's 2015 Statement of Cash Flows will include a cash outflow related to Accounts Receivable: a) True b) False

2. image

Based on the balance sheets in the attached image, the firm's 2015 Statement of Cash Flows will include a cash inflow related to Long-Term Debt: a) True b) False

3. image

Based on the balance sheets in the attached image, the firm's 2015 Statement of Cash Flows will include a cash outflow of $223 for capital expenditures: a) True b) False

4. A Common Size Income Statement states all individual revenues and expenses as a percent of net income: a)True b) False

5. A Common Size Balance Sheet states all individual assets, liabilities and equity balances as a percentage of Total Assets: a) True b) False

6. Asset Management ratios measure a firm's ability to pay it's current liabilities as they come due: a) True b) False

Balance Sheets 2014 2015 Cash 126 147 248 240 Accounts Receivable 590 630 Inventory 4,097 4,320 Net PP&E Total Assets 5,061 5,337 Accounts payable 468 450 540 519 Notes Payable 1,175 1,180 LT Debt 750 700 Common Stock & APIC 2,149 2,467 Retained Earnings Total Liabilities and Equity 5,061 S337

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