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Chapter 02 Financial Statements & Cash Flow




Question;85. What is the operating cash flow for 2010?;A. $940.52;B. $985.71;C. $1,075.50;D. $1,230.00;E. $1,354.55;86. What are the sales for 2010?;A. $4,000.00;B. $4,385.50;C. $5,435.71;D. $5,525.50;E. $5,680.00;87. Calculate net income based on the following;information: sales are $300, cost of goods sold is $150, depreciation expense;is $60, interest paid is $30, and the tax rate is 40%.;A. $36.00;B. $38.50;C. $40.50;D. $56.80;E. $60.00;Essay Questions;88. What is a liquid asset and why is it necessary for;a firm to maintain a reasonable level of liquid assets?;89. Why is interest expense excluded from the;operating cash flow calculation?;90. Explain why the income statement is not a good;representation of cash flow.


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