1. Receivables are valued based on their A. lower-of-cost-or-market value B. historical cost C. estimated amount collectible D. fair value 2. Working capital is A. capital which has been reinvested in the business. B. unappropriated retained earnings. C. total current assets less total current liabilities. D. none of these answer choices are correct. 3. Which of the following should be reported for capital stock? A. The shares authorized. B. The shares issued. C. The shares outstanding. D. All of these answer choices are correct. 4. In preparing a statement of cash flows, sale of treasury stock at an amount greater than cost would be classified as an) A. investing activity. B. extraordinary activity. C. operating activity. D. financing activity. 5. Sandhill Co. reports the following information: $368000 130000 Net cash provided by operating activities Average current liabilities Average long-term liabilities Dividends declared Capital expenditures Payments of debt 100000 63000 116000 37000 Sandhill's cash debt coverage is A. 1.60. B. 3.68 C. 2.83. D. 3.17. 6. Oriole Company reports the following information: 334000 149000 99000 Net cash provided by operating activities Average current liabilities Average long-term liabilities Dividends paid Capital expenditures Payments of debt 61000 111000 36500 Oriole's free cash flow is A. $223000. B. $273000. C. $125500. D. $162000. 7. The following accounts appeared on the trail balance of Elbert Company at December 31, 2017. Notes Payable (short-term) $192,000 Accounts Receivable $518,400 Accumulated Depreciation - Bldg. 783,000 Prepaid Insurance 56,250 Supplies 37,800 Common Stock 1,125,000 Salaries and Wages Payable 34,200 Unappropriated Retained Earnings 318,000 Debt Investments (long-term) 281,400 Inventory 1,580,250 Cash 170,250 Land 465,000 Bonds Payable Due 1/1/2025 1,200,000 Trading Securities 73,200 Allowance for Doubtful Accts. 7,800 Interest Payable 5,700 Copyrights 192,900 Buildings 1,926,000 Notes Receivable (due in 6 months) 138,000 Accounts Payable 409,950 Income Taxes Payable 156,000 Additional Paid-in Capital 163,800 Preferred Stock 750,000 Appropriated Retained Earnings 294,000 Compute each of the following: 1. Total current assets 2. Total property, plant, and equipment 3. Total assets 4. Total current liabilities 5. Total stockholders' equity