A100+Midterm%2BFall%2B2%2B2010

S net cash flows from financing activities during the

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Unformatted text preview: 000 c $39,000 d $49,000 e None of the above 21 What are Independent Inc.'s current liabilities at December 31, 2010? a $0 b $64,500 c $61,500 d $60,000 e None of the above 22 What is Independent Inc.'s net cash flows from financing activities during the three months ending December 31, 2010? a $100,000 b $90,000 c $126,000 d $81,000 e None of the above 23 What is Independent Inc.'s net cash flows from investing activities during the three months ending December 31, 2010? a ($44,000) b ($38,000) c ($84,000) d ($48,000) e None of the above 24 What are Independent Inc.'s net fixed assets at December 31, 2010? a $42,800 b $44,000 c $84,000 d $83,200 e None of the above 25 What is Independent Inc.'s approximate gross profit percentage (gross profit/sales) for the three months ending December 31, 2010? a 67.9% b 32.1% c 60.0% d 53.0% e 45.9% Use the following information to answer questions 26 through 34: (Answer each question independently) Cash Accounts receivable Inventory Prepaid insurance Equipment Accumulated depreciation Land 2009 $7,000 $12,000 $12,200 $800 $16,000 ($2,800) $20,000 $65,200 2010 $8,200 $7,000 $14,000 $1,000 $16,000 ($3,500) $18,000 $60,700 Accounts payable Unearned revenue Utilities payable Interest payable Notes payable Retained earnings Common stock 2009 $2,100 $3,000 $400 $2,600 $20,0...
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