1. Heron Company reported net income of $35,000 for the year. During the year, accounts receivable increased by $7,000, accounts payable decreased by $3,000 and depreciation expense of $5,000 was recorded. What is the net cash provided by operating activities for the year?

2. Coopers Hardware earned net income of $67,000 after deducting depreciation of $5,000 and all other expenses. Current assets decreased by $2,000, and current liabilities increased by $6,000. Cooper paid $9,000 of dividends. How much was Coopers cash provided by operating activities?

3. Which ratio provides a measure of a company's ability to pay long-term debt?

Rate of return on total assets

Price/earnings ratio

Quick ratio

Times-interest-earned ratio