6. A firm had a retained earnings balance of $4min in the previous year. In the current year, its net income is $2.5 million. If it pays $1million in common dividends in the current year, what is its resulting retained earnings balance? 7. A firm has $8 million in total assets. It has $3 million in current liabilities, $2.5 million in long-term debt, and $1 million in preferred stock. What is the total value of common equity? 8. What types of questions does the statement of cash flow answer? 9. Why is NOPAT a better performance measure than net income? 10. Define Market Value Added" and "Economic Value Added" 11. In how many years will $2000 grow to $2440 at 7% compounded quarterly? 12. Suppose $2500 earns an interest of $250.81 in one year. What is the nominal annual rate of interest compounded annually? 13. Compute the value of an investment 8 months before the maturity date that earns interest at 6% p.a. and has a maturity value of $884. 14. How long does it take for money to double at 5% compounded quarterly? 15. If you were to start a business: a) What kind of business would it be? b) And what would be your first 3 steps towards it