22. (2 Pts) The easiest way to improve labor costs is to a. Train the workforce to increase productivity. b. Reduce the number of higher paid unskilled workers. c. Implement management skills. d. Do quality control checks throughout various stages of the manufacturing process: 23. (2 Pts) Cash available to pay non operational expenses such as taxes and principal and interest payments on debt is found on the listed as a. Balance Sheet/Current Assets b. Income Statement/Net Income c. Balance Sheet/Retained Earnings d. Income Statement / EBITDA 24. (2 Pts) The accounting definition of working capital is: a. Assets minus liabilities equal working capital. b. Current assets divided by current liabilities equal working capital. c. Current assets minus current liabilities equal working capital. d. Money in the till. 25. (2 Pts) In order to increase gross margin percentage, one should a. Sell more units b. Raise prices c. Reduce fixed costs d. All of the above 26. (3 Pts) This hypothetical applies to the next five questions. You just completed your first year in business. You're working harder and making less than you planned. You recall someone saying that gross profit margin important. If first year CoGS were $720,000 on sales of $1,500,000, how much profit are you losing if the average gross margin from your industry scorecard is 55% ? Show your work