1) All businesses are involved in three types of activitiesfinancing, investing, and operating. Listed below are the names and descriptions of companies in several different industries.

Abitibi Consolidated Inc.manufacturer and marketer of newsprint

Cal State-Northridge Stdt Unionuniversity student union

Oracle Corporationcomputer software developer and retailer

Sportsco Investmentsowner of the Vancouver Canucks hockey club

Grant Thornton LLPprofessional accounting and business advisory firm

Southwest Airlineslow-cost airline

a) For each of the above companies, provide examples of a financing activity, an investing activity, and an operating activity that the company likely engages in.

b) Which of the activities that you identified in part (a) are common to most businesses? Which activities are not?

2) At the beginning of the year,BlossomCompany had total assets of $800,000and total liabilities of $510,000. (Treat each item independently.)

(a) If total assets increased $140,000during the year and total liabilities decreased $70,000, what is the amount of stockholders' equity at the end of the year?

Stockholders' equity:

(b) During the year, total liabilities increased $90,000and stockholders' equity decreased $60,000. What is the amount of total assets at the end of the year?

Total assets:

(c) If total assets decreased $80,000and stockholders' equity increased $100,000during the year, what is the amount of total liabilities at the end of the year?

Total liabilities:

3) Consider each of the following independent situations.

For each company, provide a brief discussion interpreting these financial facts. For example, you might discuss the company's financial health or its apparent growth philosophy.

a)The retained earnings statement of Lee Corporation shows dividends of $68,000, while net income for the year was $75,000.

b)The statement of cash flows for Steele Corporation shows that cash provided by operating activities was $10,000, cash used in investing activities was $110,000, and cash provided by financing activities was $130,000.