The only difference between the direct and the indirect methods is the:
a. presentation of the cash flows from investing activities.
b. presentation of the cash flows from financing activities.
c. presentation of the cash flows from operating activities.
d. presentation of the cash flows from noncash activities.
c
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Income Statement
CFM Majestic Inc. Years 1 & 2 ($000,000s) Year 1 Year 2 Sales 381.9 416.3 COGS 244.9 278.9 SG&A 59.7 63.8 Depreciation 13.8 15.4 R & D 5.3 4.3 EBIT 58.2 53.9 Interest Expense 7.3 7.9 Earnings before Income Tax 50.9 46.0 Income Taxes 17.3 14.8 Net Income 33.6 31.2 Referring to the CFM Majestic financial statements, did ROE rise or fall from Year 1 to Year 2? A) Fall B) Rise
A disadvantage of a limited liability company is that it ________
A) requires earnings to be taxed at the corporate rate B) must dissolve when an owner leaves the company C) requires the division of profits in a fixed proportion D) has more restrictive ownership rules than S corporations E) is required to hold annual meetings