1. During 2007, Dole Company sold equipment with a book value of $90,000 for proceeds of $104,000. The company purchased new equipment for $240,000 by signing a long-term note payable. No other transactions impacted long-term asset accounts during 2007. The investing section of the statement of cash flows will report:
net cash outflows of $226,000
net cash outflows of $136,000
net cash inflows of $104,000
net cash inflows of $14,000

2. Accounts receivable arising from sales to customers amounted to $80,000 and $70,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $240,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is:
$240,000
$250,000
$310,000
$230,000

3. Morris Company issued 10,000 shares of $1 par common stock for $25 per share during 2007. The company paid dividends of $24,000 and issued long-term notes payable of $220,000 during the year. What amount of cash flows from financing activities will be reported on the statement of cash flows?
$6,000 net cash inflow
$226,000 net cash inflow
$470,000 net cash outflow
$446,000 net cash inflow

4. A company had net income of $242,000. Depreciation expense is $26,000. During the year, accounts receivable and inventory increased $15,000 and $40,000, respectively. Prepaid expenses and accounts payable decreased $2,000 and $4,000, respectively. There was also a loss on the sale of equipment of $3,000. How much cash was provided by operating activities?
$214,000
$207,000
$274,000
$295,000

5. Harbor Company reported net income of $60,000 for the year ended December 31, 2007. During the year, inventories decreased by $12,000, accounts payable decreased by $18,000, depreciation expense was $20,000 and a gain on disposal of equipment of $9,000 was recorded. Net cash provided by operating activities in 2007 using the indirect method was:
$119,000
$65,000
$77,000
$55.000

6. Wilton Company reported net income of $40,000 for the year. During the year, accounts receivable increased by $7,000, accounts payable decreased by $3,000 and depreciation expense of $5,000 was recorded. Net cash provided by operating activities for the year is:
$30,000
$45,000
$39,000
$35,000

7. A company has Net Income of 130,000 for the year ended 12/31/2009. The company\'s 12/31/2008 Balance Sheet shows 40,000 shares of common stock outstanding, and the company\'s 12/31/2009 Balance Sheet shows 60,000 shares of common stock outstanding. For 2009, the company paid out 10,000 in cash dividends on to its preferred stock holders. The EPS for this company for 2009 was:
$2.4 per share
$3.0 per share
$2.0 per share
$1.5 per share

8. Loster Company reported a net loss of $10,000 for the year ended December 31, 2007. During the year, accounts receivable decreased $5,000, merchandise inventory increased $8,000, accounts payable increased by $10,000, and depreciation expense of $5,000 was recorded. During 2007, operating activities:
used net cash of $2,000
used net cash of $8,000
provided net cash of $2,000
provided net cash of $8,000

9. The net income reported on the income statement for the current year was $220,000. Depreciation was $50,000. Accounts receivable and inventories decreased by $10,000 and $30,000, respectively. Prepaid expenses and accounts payable increased, respectively, by $1,000 and $8,000. How much cash was provided by operating activities?
$281,000
$317,000
$301,000
$239,000

10. Buster Company reported a net loss of $3,000 for the year ended December 31, 2007. During the year, accounts receivable decreased $7,000, merchandise inventory increased $5,000, accounts payable increased by $10,000, and depreciation expense of $5,000 was recorded. During 2007, operating activities:
used net cash of $1,000
used net cash of $14,000
provided net cash of $14,000
provided net cash of $9,000

11. Stockholders are most interested in evaluating:
liquidity
solvency
profitability
marketability