QUIZ ONE: BUSINESS 312NAME ___________________________________ Student Number__________________________Instructions: Open book and open notes. Please work independently. Hand-in no additional sheets of paper; use the back of this quiz sheet if you need more space. If you would like your marked quiz returned, use pen rather than pencil for your answer. The following information is available on the financial accounts of ABC Corporation.1999EBITDA?depreciation20interest2519981999Trade Capital??Short-term Debt?300Net Fixed Assets??Equity520?Invested Capital?850NOTES: “Equity” represents the sum of all of the accounting equity accounts (e.g., share-capital plus retained earnings). You can presume that depreciation for tax and for financial statement purposes is the same, and therefore, there is no deferred income tax in this problem (i.e., capital cost allowance is the same as financial statement depreciation). ABC’s did some incrementalborrowing during 1999. Because this borrowing was at the end of 1999,
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Short-term Debt, Generally Accepted Accounting Principles