1. Q 27 30

   Nongshin Company reported the following income statements for the year ended on Dec. 31, 2021 and the balance sheets for 2021 and 2020.

   Income Statement	Year 2021	Balance Sheet	Dec. 31, 2021	Dec. 31, 2020
   Net Sales Revenue	$ 180,000	Cash	?	?
   Cost of Goods Sold	($145,000)	Accounts Receivable	$25,000	$33,000
   Gross Profit	$ 35,000	Merchandise Inventory	$18,000	$15,000
   Depreciation Expense	($1,100)	Land	$130,000	$80,000
   Other Operating Expenses	($2,600)	Equipment	$40,000	$102,000
   Operating Income	$ 31,300	Accumulated Depreciation	($6,000)	($55,000)
   Interest Expense	($500)	Accounts Payable	$9,200	$7,000
   Loss from Disposal	($950)	Notes Payable (Long-term)	$45,000	$10,000
   Income Tax Expense	($6,000)	Common Stock	?	?
   Net Income	$ 23,850	Retained Earnings	$180,000	$125,000

   Additional information:

   • Nongshin purchased land for $15,000. Of this amount, $3,000 was paid in cash and $12,000 was paid by issuing a three-year note payable.
   • Nongshin sold equipment and received cash. The equipment had a cost of $11,000 and accumulated depreciation of $9,400 before disposal. The loss from the disposal is $950.
   • During 2021, there were no cash payments to retire notes payable.
   • During 2021, Nongshin issued common stock for $4,000 cash. Nongshin has not issued any preferred stock.
   • All dividends were paid in cash during 2021.
   • All of Nongshins sales were credit sales in 2021.

   Q27. Find Nongshins cash flow from operating activities in 2021.

   		$22,320
   		$24,320
   		$26,320
   		$28,320

QUESTION 28

1. Q28. Find Nongshins cash flow from investing activities in 2021.

   		($1,350)
   		($2,350)
   		($3,350)
   		($4,350)

QUESTION 29

1. Q29. Find Nongshins cash flow from financing activities in 2021.

   		($21,250)
   		($22,250)
   		($23,250)
   		($24,250)

QUESTION 30

1. Q30. Which of the following is NOT correct?

   		Nongshins profit margin ratio is 0.13.
   		Nongshins days sales in inventory is 8.18.
   		Nongshins days sales in receivables is 6.79.
   		Nongshins dividend payout ratio is 0.84.