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Question 8.Question :Which of the following would appear as an extraordinary item on the income statement?Student Answer:loss resulting from the sale of fixed assetsgain resulting from the disposal of a segment of thebusinessloss from land condemned for public use
liquidating dividendInstructor Explanation:Feedback: LO: 17-Appendix.Points Received:2 of 2Comments:Question 9.Question :The following information pertains to Brock Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assumethat all sales were on credit.AssetsCash and short-term investmentsAccounts receivable (net)InventoryProperty, plant and equipmentTotal AssetsLiabilities and Stockholders’ EquityCurrent liabilitiesLong-term liabilitiesStockholders’ equity-commonTotal Liabilities and stockholders’ equityIncome Statement .
SalesCost of goods soldGross marginOperating expensesNet incomeNumber of shares of common stockMarket price of common stockWhat is the current ratio for this company?Instructor Explanation:Feedback: LO: 17-02.Points Received:2 of 2Comments:Question 10.Question :Accounts payableAccounts receivableAccrued liabilitiesCashIntangible assetsInventoryLong-term investmentsLong-term liabilitiesMarketable securitiesNotes payable (short-term)Property, plant, and equipmentPrepaid expenses
Based on the above data, what isthe amount of working capital?Instructor Explanation:Feedback: LO: 17-02.Points Received:2 of 2