27) Which of the following accounts belongs in the equity section of a balance sheet? a. Dividends b. Retained earnings c. Long-term debt d. Cash Table 3-1 Jones Company Financial Information December 2007 December 2008 Net income $2,000 $5,000 Accounts receivable 750 750 Accumulated depreciation 1,000 1,500 Common stock 4,500 5,000 Paid-in capital 7,500 8,000 Retained earnings 1,500 2,500 Accounts payable 750 750 28) Based on the information in Table 3-1, calculate the after tax cash fl ow from operations for 2008 (no assets were disposed of during the year, and there was no change in interest payable or taxes payable). a. $6,500 b. $3,375 c. $3,750 d. $5,500 30) Higher inventory turnover suggests that a. the companys inventory is more liquid. b. the companys inventory is somewhat obsolete. c. the company has a higher inventory balance. d. the companys sales are higher. 33) Given an accounts receivable turnover of 20 and annual credit sales of $400,000, the average collection period is: a. 20 days b. 45.625 days c. 17.49 days d. 18.25 days 40) It is your 5th birthday today. You have a trust fund with $50,000 that is earning 8% per year. You expect to withdraw $20,000 per year for 4 years start ing on your 21st birthday for graduate school. How much money will be left in the trust fund after your last withdrawal (rounded to the nearest $10)? a. $135,780 b. $91,30 c. $125,660 d. You will not have enough money to pay for graduate school.