36_

Blanco, Inc. has the following income statement (in millions):

BLANCO, INC.

Income Statement

For the Year Ended December 31, 2010

current assets $200

non-current assets 520

total assets 720

Using vertical analysis, what percentage is assigned to total assets?

Select one:

a.

28%

b.

72%

c.

120%

d.

100%

37_

loss from disposal of an asset is considered as a cash inflow in the indirect method statement of cash flows.

Select one:

True

False

38_

$ 10,000 increase in unearned revenues shown in the statement of cash flows using the indirect method as

a.

$10,000 inflow in the operating activities

b.

$10,000 outflow in the investing activities

c.

$10,000 outflow in the operating activities

d.

it has no effect