Which of the following sections from the statement of cash flows includes activities that increase
and decrease long-term liabilities and owners' equity?
A) Activities that increase and decrease long-term liabilities and owners' equity are included
in the investing section.
B) Activities that increase and decrease long-term liabilities and owners' equity are included
in the financing section.
C) Activities that increase and decrease long-term liabilities and owners' equity are included
in the operating section.
D) Activities that increase and decrease long-term liabilities and owners' equity are not
included in any of the above-mentioned sections.
B
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Miller Bros. Hardware is operating at full capacity with a sales level of $689,700 and fixed assets of $468,000. The profit margin is 7 percent. What is the required addition to fixed assets if sales are to increase by 10 percent?
A. $3,276 B. $4,680 C. $28,400 D. $32,760 E. $46,800
Prepare a comparative common-size income statement for Marion, Inc for 2017 and 2016 data
(Round percentages to one decimal place.) Marion, Inc Comparative Income Statement Years Ended December 31, 2017 and 2016 2017 2016 Net Sales $ 6,355 $ 4,920 Cost of Goods Sold 3,370 2,200 Gross Profit 2,985 2,720 Operating Expenses: Selling Expenses 675 580 Administrative Expenses 410 425 Total Operating Expenses 1,085 1,005 Operating Income 1,900 1,715 Other Revenues and (Expenses): Interest Revenue 0 0 Interest Expense (400 ) (695 ) Total Other Revenues and (Expenses) (400 ) (695 ) Income Before Income Taxes 1,500 1,020 Income Tax Expense 230 210 Net Income $ 1,270 $ 810 What will be an ideal response