1.)Team Shirts, Inc. had net cash from operating activities of $50000. It paid $40000 to buy a new computer system by signing a $30000 not and paying the balance. Net cash from (or used for )investing activities for the period was

A.) $40000

B.) $(40000)

C.) $(10000)

D.) $10000

2.) Use the following information for Equitable, Inc. to answer the following question(s) Equitable issued no new common stock and had 100,000 common shares issued and outstanding during 2011. Equitable has no preferred stock.

Net income for the year ended Dec 31 2011.........$370000

Retained earnings Dec 31 2010..........................$280000

Retained earnings Dec 31 2011..........................$360000

Total shareholders equity at Dec 31 2011............$725000

Total liabilities at Dec 31 2010...........................$105000

Total liabilities at Dec 31 2011..........................$385000

Total assets at Dec 31 2010............................$750000

What was return on equity for the year ended Dec 31 2011?

A.) 51.0%

B.) 20.0%

C.) 54.0%

D.) 102.8%

What was return on equity for the year ended December 31, 2011?