8. A corporation issued 8% bonds with a par value of $1,010,000, receiving a $22,000 premium. On the interest date 5 years later, after the bond interest was paid and after 40% of the premium had been amortized, the corporation purchased the entire issue on the open market at 99 and retired it. The gain or loss on this retirement is:

a. 0 b. 10,100 gain c. 23,300 gain d. 23300 loss e. 10100 loss.

21.A company had net cash flows from operations of $142,000, cash flows from financing of $374,000, total cash flows of $566,000, and average total assets of $3,820,000. The cash flow on total assets ratio equals:

a. 3.9% b. 14.8% c. 3.7% d. 25.1% e.14.5%