Given the following financial statements for ARGON Corporation, and assuming that ARGON
paid a common dividend of 80,000 in 2010, what is the company's financing cash flow for 2010?
Income Statement Balance Sheet
Year Ended 12/31/10 12/31/2010 12/31/2
Sales 1,300,000 Current Assets 50,000 45
Cost of Goods Sold 750,000 Gross Fixed Assets 880,000 650
Operating Expenses 200,000 Less Accumulated Depreciation 450,000 350
Depreciation Expense 100,000 Fixed Assets 430,000 350
EBIT 250,000 Total Assets 480,000 395
Interest Expense 50,000
EBT 200,000 Current Liabilities 35,000 50
Taxes 80,000 Long-term Debt 330,000 270
Net Income 120,000 Common Stock 5,000 5
Retained Earnings 110,000 70
Total Liabilities & Equity 480,000 395
A) -15,000 B) -65,000 C) -10,000 D) -70,000
Question 2
Which of the following statements about the ISO businessowners policy is true?
A) The current form is written on a named-perils basis, but an open-perils (all risks) endorsement is available.
B) It provides business income and extra expense coverage as an additional coverage.
C) The policy covers business personal property but does not cover buildings.
D) The policy is designed to meet the special needs of large businesses.
Argon
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Apple Corporation, Macintosh computer, Cupertino, California.
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