Please show the math/work:

1. A firm has $1,600 in retained earnings on its 2015 balance sheet. In 2016, it reported a net loss of $400 (i.e., net income was negative $400) and paid a dividend of $200. What will be the amount of retained earnings on its 2016 balance sheet?

a. _____ $1,200

b. _____ $1,000

c. _____ $1,800

d. _____ $1,600

e. _____ $2,200

2. Over the most recent year, a companys cash increased by $100, accounts receivable increased by $120, inventory decreased by $80, and accounts payable increased by $50. What was the change in net working capital?

a. _____ increase of $90

b. _____ decrease of $90

c. _____ increase of $190

d. _____ decrease of $190

e. _____ decrease of $10

3. In 2016, a company spent $5,000 on new machinery, recorded depreciation expense of $800, sold old machinery valued at $300, and reported net fixed assets of $11,400 on the year-end balance sheet. What was the amount of net fixed assets at the end of 2015?

a. _____ $15,300

b. _____ $16,900

c. _____ $6,900

d. _____ $5,300

e. _____ $7,500

4. A company has sales of $2,000,000. Labor and material expense is $900,000, and depreciation is $300,000. Selling, general, and administrative expense is $200,000. Interest expense is $100,000 and the tax rate is 40%. What is the level of operating income?

a. _____ $300,000

b. _____ $360,000

c. _____ $500,000

d. _____ $600,000

e. _____ $800,000

5. Toronto Technology has sales of $5,000, net income of $600, total liabilities of $800, and equity of $1,200. The firm has $400 in accounts payable. On the common-size statement, what is the value of accounts payable?

a. _____ 8.0 percent

b. _____ 16.7 percent

c. _____ 20.0 percent

d. _____ 50.0 percent

e. _____ 66.7 percent