1. Which financial statement will you use to determine if Campbell's Soup Company has Accounts Receivable?

Income Statement

Cash Flow Statement

Balance Sheet

Retained earnings statement

2.What section of the financial statement will Goodwill be located if it is present?

Operating income

current liability

non-current asset

current asset

owners equity

3.

Answer the following questions for Campbell's Soup Company for the current year and the prior year of the Financial Statements. NOTE: Use the amounts in millions as stated on the Financial Statements. Enter the number only without the Dollar Sign, Percentage or Commas! Round to whole dollars unless otherwise instructed!

	2017.	2016
Net Sales
Cost of Products Sold
Gross Profit (dollars)	$	$
Gross Profit Percentage (Two decimal Places Only (example .25)	%	%

4. What method do you think the company uses for income tax purposes?

Straight line Method using the MACRS rates is probably used for tax purposes to minimize taxes payable.

Written down value Method using the MACRS rates is probably used for tax purposes to minimize taxes payable.

Accelerated depreciation using the MACRS rates is probably used for tax purposes to minimize taxes payable.

No answer text provided.

5. Which of the following is NOT an intangible asset?

Goodwill

Copyright

License Agreement to use a Product

Patent

Franchise License