1. Company ABC presents the following information in its statement of cash flows: Cash flows from operating activities $10,000 Cash flows from investing activities (50,000) Cash flows from financing activities 70,000 Cash at beginning of period 40,000 The amount of net cash increase for the current year is:

a. $40,000

b. $10,000

c. $30,000

d. $60,000

2. ABC Companies sold land for $90,000 for a gain of $10,000 and purchased investments for $20,000. Net cash flow from investing activities was:

a. $100,000

b. $70,000

c. $80,000

d. $111,000

3. Bank ABC asks a person to present his personal financial statements to originate a loan. Jose's financial status

a. You have to include assets at your acquisition cost

b. You have to include assets at their market value (current)

c. You must include Retained Earnings as part of your capital

d. You do not have to include your debts