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financial statements10

financial statements10 - Balance sheet cash i Answer c Diff...

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Balance sheet cash Answer: c Diff: E N i . At the end of 2001, Lehnhoff Inc. had $75 million in cash on its balance sheet. During 2002, the following events occurred: The cash flow from Lehnhoff’s operating activities totaled $325 million. Lehnhoff issued $500 million in common stock. Lehnhoff’s notes payable decreased by $100 million. Lehnhoff purchased fixed assets totaling $600 million. How much cash did Lehnhoff Inc. have on its balance sheet at the end of 2002? a. $ 50 million b. $ 100 million c. $ 200 million d. $ 400 million e. $1,400 million Retained earnings Answer: d Diff: E N ii . At the end of 2001, Scaringe Medical Supply had $275 million of retained earnings on its balance sheet. During 2002, Scaringe paid a per-share dividend of $0.25 and produced earnings per share of $0.75. Scaringe has 20 million shares of stock outstanding. What was the level of retained earnings that Scaringe had on its balance sheet at the end of 2002? a. $255 million b. $265 million c. $275 million d. $285 million e. $295 million Statement of retained earnings Answer: d Diff: E N iii . In its recent income statement, Smith Software Inc. reported $25
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