- Innovative Products reported net income of $220,000. Beginning and ending inventory balances were $48,000 and $49,500, respectively. Accounts Payable balances at the beginning and end of the year were $39,000 and $36,000, respectively. Assuming that all relevant information has been presented, the company would report net operating cash flows of:

A. $224,500.

B. $218,500.

C. $221,500.

D. $215,500.

- The Statement of Cash Flows:

A. Has two methods for investing cash flows - direct and indirect.

B. Lists all cash flows over the life of a company.

C. Breaks down all cash transactions into investing and financing cash flows.

D. Shows that the change in total cash from one year to the next is equal to the net operating, investing, and financing cash flows.

Only the following labels are accepted:

• Average stockholders equity
• Average total assets
• Average total liabilities
• Net income
• Sales revenue

Thank you!

LaDanion's Limos reports net income of $124,000, average total assets of S640,000, and average total liabilities of $280,000. Calculate LaDanion's return on assets and return on equity ratios. (Round your final answers to 1 decimal place.) Return on Assets LaDanion's Limos Return on Equity LaDanion's Limos