1. If a firm has a total asset turnover of 8 times and a return on total assets of 15%, its net profit margin must be
2. Stepping Out Shoe Mfg. has inventory purchases of $2,200 during the month of June. If the June 1 accounts payable was $1,700 and June 30 accounts payable was $1,900, what was the cash payment?
3. Last year, Monroe Bro Products had $25,000 net cash provided by its operating activities. Its investing activities used $30,000, and its financing activities provided $10,000. Its cash and cash equivalents balance at the beginning of the year was $15,000. By how much did Monroe's cash and cash equivalents increase?