Answer the following questions on statement of cash flows:

1. Cash outflows related to stock repurchases will appear in the ___________ section on the Statement of Cash Flows.

a) Operating

b) Investing

c) Financing

2. Cash inflows from sales of PP&E will appear in the ___________ section on the Statement of Cash Flows.

a) Operating

b) Investing

c) Financing

3. Harbinger Corporation reports the following balances:

How much Cash did Harbinger collect from customers in 2021?

a) $595,000

b) $545,000

c) $560,000

d) $570,000

4. True or False: If a company reports a 4% profit margin percentage, this means that the company is earning 40 cents of profit per dollar of sales.

5. Golden Company reports Advertising Expense of $515,000 on its 2021 Income Statement. Golden's Balance Sheet shows Advertising Payable of $25,000 as of 12/31/21 and $15,000 as of 12/31/20. How much Cash did Golden pay for advertising in 2021?

a) $535,000

b) $515,000

c) $525,000

d) $505,000

Accounts Receivable (Gross) Inventory Accounts Payable Unearned Revenue As of 12/31/21 80,000 160,000 120,000 40,000 As of 12/31/20 70,000 140,000 135,000 55,000 Year ended 12/31/21 570,000 290,000 Year ended 12/31/20 500,000 230,000 Sales Cost of Goods Sold