27. What was the effective tax rate during 2016? 27________________________

28. How much cash was paid to the owners during 2017? 28________________________

Use the following information to answer questions 23-28. SHOW YOUR WORK The following information was abstracted from the financial statements of Bateman & Co. for the year ended December 31, 2017: 12/31/17 12/31/16 change YE 12/31/17 $50,000 30,000 12,000 15,000 10,000 14,000 4,000) (8,000) 1,500 Accounts receivable 11,00012,000 (1,000) 8,000 12,000 3,000 30,000 Sales Cost of goods sold Operating Income Pretax Income Net Income Operating cash flow Investing cash flows Financing cash flow Depreciation expen Capital expenditure Net change in debt $3,000 Inventory Accounts payable Short term debt Total current assets Total current liabilitie $ 16,000 7,000 11,000 1,000 28,000 14,000 1,000 1,000 2,000 2,000 2,000 (2,500 cash used cash received