1. Ralph corporation reported the following revenue data:

Year Net revenue (in millions)

2016 $7,100

2017 $7,418

2018 $7,128

2019 $7,668

Use 2016 as the base year. The trend percentage in 2019 is close to

A. 113%

B. 108%

C. 93%

D. 103%

2. Ralph company reported the following data (in millions) for the past two years:

2019 2018

Net revenue $380 $290

Cost of goods sold $145 $175

Gross profit $235 $115

Operating expense $150 $45

Operating income $85 $70

In a vertical analysis of 2019, the operating expense percentage is closest to

A. 39%

B. 333%

C. 22%

D. 253%

3. Incredible Industries began 2018 with accounts receivable, inventory, and prepaid expenses totaling $ 48,000 and its total current liabilities totaling$ 39,000.At the end of the year, these same current assets totaled $49,000, while its total current liabilities totaled $50,000. Net income for the year was $89,000. Included in net income were a 6,000 loss on the sale of land and depreciation expense of$5,000.

Show how Incredible should report cash flows from operating activities for 2018.The company uses the indirect method. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.)