1. Describe two types of business organizations in which you could obtain an ownership position while enjoying limited liability. Provide an example of a type of firm that you might find utilizing each business type.

2. Manitou Corp. had additions to retained earnings for the year just ended of $141,000. The firm paid out $189,000 in cash dividends, and it has ending total equity of $5.44 million. The company currently has 120,000 shares of common stock outstanding. Calculate a) Earnings Per Share (EPS), b) Book Value Per Share (BVPS), c) Price Earnings Ratio (P/E), d) Dividend Per Share, e) Market to Book Ratio.

3. Teeswater Corp. shows the following information on its 2015 statement of comprehensive income: sales = $235,000; costs = $141,000; other expenses = $7,900; depreciation expense = $17,300; interest expense = $12,900; taxes = $19,565; dividends = $12,300. In addition, youre told that the firm issued $6,100 in new equity during 2015 and redeemed $4,500 in outstanding long-term debt. Calculate a) Cash Flow from Assets b) Operating Cash Flow c) Cash Flow to Creditors d) Cash Flow from Debtors e) Addition to Net Working Capital.