1. What was cash received from customers in 20X8?

A. $428,000 B. $432,000 C. $441,000 D. $445,000 E. None of the above.

2. What was cash paid to suppliers in 20X8?

A. $100,000 B. $126,000 C. $194,000 D. $220,000 E. None of the above.

3. What was cash paid for rent in 20X8?

A. $24,000 B. $26,000 C. $42,000 D. $44,000 E. None of the above.

4. What was cash paid for taxes in 20X8?

A. $26,000 B. $30,000 C. $42,000 D. $46,000 E. None of the above.

5. What was cash received from sale of equipment in 20X8?

A. $33,000 B. $39,000 C. $57,000 D. $63,000 E. None of the above.

6. What was the amount of dividends declared in 20X8?

A. $17,000 B. $ 65,000 C. $71,000 D. $105,000 E. None of the above.

7. What was cash paid for dividends in 20X8?

A. $59,000 B. $71,000 C. $77,000 D. $99,000 E. None of the above.

8. What was cash from operating activities in 20X8?

A. $156,000 B. $184,000 C. $188,000 D. $278,000 E. None of the above

9. What was cash for investing activities in 20X8?

A. $471,000 B. $504,000 C. $517,000 D. $662,000 E. None of the above.

10. What was cash for financing activities in 20X8?

A. $182,000 B. $262,000 C. $294,000 D. $327,000 E. None of the above.

Comparative Balance Sheets December 31 Cash Accounts receivable, net Inventory Prepaid Rent Land Building Accumulated depreciation Equipment Accumulated depreciation 20x8 S 36,000 30,000 120,000 6,000 120,000 200,000 (50,000) 1,030,000 (118,000) 20X7 $ 24,000 32,000 73.000 15,000 190,000 200,000 (40,000) 600,000 (94,000) Totals $1,374,000 S1.000.000 $ Accounts payable Rent payable Dividends payable Income taxes payable Deferred taxes Bonds payable Capital stock, $10 par Retained earnings Treasury stock S 106,000 3,000 7,000 11,000 3,000 303,000 760,000 197,000 (16,000) 93,000 2,000 1,000 3,000 1,000 -0- 720,000 180,000 Totals $1,374,000 S1.000.000 Income Statement For the Year Ended December 31, 20X8 Sales - Cost of Goods Sold - Depreciation Expense - Rent Expense + Gain on Sale of Land - Loss on Sale of Equipment - Tax Expense Net Income S430,000 (160,000) (106,000) ( 34,000) 9,000 (15,000) (36.000) S88.00.0 Additional Data: Land was sold. Equipment costing S120,000 with accumulated depreciation of $72,000 was sold. Cash dividends were declared and paid