Account 2 Exam 1 with answers 2023 graded A+

Investing activities include - collecting cash on loans made. The current ratio would be of most interest to - short-term creditors. Comprehensive income would not include - dividends declared. Which of the following statements is not true about a 2-for-1 stock split? - Total paid-in capital increases The following information pertains to Unique Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $ 40,000 Accounts receivable (net) 25,000 Inventory 20,000 Property, plant and equipment 210,000 Total Assets $295,000 Liabilities and Stockholders' Equity Current liabilities $ 60,000 Long-term liabilities 85,000 Stockholders' equity—common 150,000 Total Liabilities and Stockholders' Equity $295,000 Income Statement Sales revenue $ 85,000 Cost of goods sold 45,000 Gross profit 40,000 Operating expenses 20,000 Net income $ 20,000