1) Which of the following are included in the financing section of the cash flow statement?

i - New bank loan

ii - Payment of dividends

iii - Profit for the year

iv - Sale of shares

Select one:

a. ii and iii only

b. all of i, ii, iii and iv

c. i, ii and iv only

d. i and iii only

2) A corporation reported the following information for the past year:

Net Income $400,000

Depreciation Expense 60,000

Gain on sale of truck 10,000

Proceeds from sale of truck 16,000

Decrease in accounts receivable 20,000

Assuming these are the only facts, what amount will the corporation report as the Net Cash Provided by Operating Activities on the cash flow statement?

Select one:

a. $506,000

b. $470,000

c. Cannot be determined

d. $450,000