Free cash flow is

	1.	cash from financing, less cash used to purchase fixed assets to maintain productive capacity and cash used for dividends
	2.	cash flow from operations, less cash used to purchase fixed assets to maintain productive capacity and cash used for dividends
	3.	all cash in the bank
	4.	cash from operations

2.Which one of the following below would not be classified as an operating activity?

	1.	selling expenses
	2.	interest expense
	3.	payment of dividends
	4.	income taxes

3.Discount Sales sells some used store fixtures. The acquisition cost of the fixtures is $12,500, the accumulated depreciation on these fixtures is $9,750 at the time of sale. The fixtures are sold for $4,500. The value of this transaction in the Investing section of the statement of cash flows is:

	1.	$2,750
	2.	$1,750
	3.	$12,500
	4.	$4,500