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16. Below are the 2016 and 2017 year-end balance sheets for Bull Tractor Corp: Assets Cash Accounts receivable 2017 S 200,000 2016 S 170,000 700,000 864,000 2.000,000 $3,064,000 6,000,000 1400.000 $2,270,000 5600,000 Total current assets Net fixed assets Total assets abilitie Accounts payable Notes payable Total current liabilities Long-term debt Common stock Retained earnings $1,090,000 1800000 S1,400,000 2,400,000 3,000,000 2,400,000 2,000,000 $2.580.000 Total common equity Total liabilities and equity 3.664.000 BUS 230 Principles of Finance (Fall' 18) Dr. Kyaw The firm has never paid a dividend on its common stock, and it had $2,400,000 of 10-year, non- callable, long-term debt in 2016. As of the end of 2017, none of the principal on this debt had been repaid. Assume that the company's sales in 2016 and 2017 were the same. Which of the following statements must be CORRECT? a. The fim increased its short-term bank debt in 2017 b. The firm issued long-term debt in 2017 c. The firm issued new common stock in 2017 d. The firm had negative net income in 2017 17. Oa its 12/31/12 balance sheet, Barnes Inc showed $510 million of retained eanings, and exactly that same amount was shown the following year 2013. Which of the following statements is CORRECT? a. The company must have had zero net income in 2012 b. The company must have paid out half of its 2013 earnings as dividends c. The company must have paid no dividends in 2013 d. The company must have paid out all of its 2013 net income as dividends. 18. Analysts wbo follow Howe Industries recently noted that, relative to the previous year company's net cash provided firom operati decreased. Which of the following factors could explain this situation? a The company cut its dividend ons increased, yet cash as reported on the balance sheet