1 The balances of select accounts of Sandra, Inc. as of December 31, 2018 are given below: Debit Credit Building $ 100 comma 000 $100,000 Cash 8 comma 000 8,000 Office Supplies 900 900 Furniture 6 comma 000 6,000 Prepaid Insurance 450 450 Accumulated Depreciation long dash Furniture $ 2 comma 000 $2,000 Land 30 comma 000 30,000 Accumulated Depreciation long dash Building 4 comma 600 4,600 Accounts Receivable 2 comma 200 2,200 The insurance has been prepaid until June 30, 2019. Determine the amount of total current assets reported on the balance sheet at December 31, 2018.

A. $ 11 comma 550 $11,550 B. $ 8 comma 900 $8,900 C. $ 9 comma 350 $9,350 D. $ 16 comma 200 $16,200

2

Which of the following is true of the statement of cash flows?

A.

It covers a span of time and is dated the same as the income statement.

B.

It indicates when long-term debt will mature.

C.

It reports on the qualitative behavior of the company's performance.

D.

It shows how the profits or losses of the company were generated.

3

Reliable Moving Company reported the following amounts on its balance sheet as of December 31, 2019 and December 31, 2018:

	2019	2018
Cash and Receivables	$75,000	$135,000
Merchandise Inventory	155,000	220,000
Property, Plant and Equipment, net	770,000	770,000
Total Assets	$1,000,000	$1,125,000
Total Liabilities	$465,000	$435,000

For the vertical analysis, what is the percentage of total liabilities for December 31, 2018? (Round your answer to two decimal places.)

A.

38.67%

B.

100.00%

C.

31.03%

D.

46.50%