Question 10 A . D . LEO HULUM VHS Les to this awer 5 points 1. A business had a 20% Variance in cash flow from investing actives this year as compared to last year. The dollar amount of cash flow from investing activities inst year was $40.000. What was the doll amount of cash flow from investing activities for this business in year ($1.000.000) b5672 000 721 8.000 d $1.000.000 Question 12 Which statement about a business's accounts receivable (AR) is true? 1. The amount of AR is identified on the balance sheet 2. The amount of AR is identified on the income statement 3. A large amount of AR means a business's collection efforts are working well 4. A large amount of AR means a business's' collection efforts are not working well = Moving to the next question prevents changes Question 13 A business has assets of $1,000,000 and liabilities of $600,000. What is the amount of owners' equity in this business? a $1,400,000 b.$600,000 C. $400,000 $1,600,000 Question 14 Prepare an Income Statement for ABC Food marketing Company Prepare it in good form Month Ending March 30, 2020 ABC Food Marketing Company Income Statement and Retained Earnings For the Period: January 1 through December 30, 2019 Prepare and Income Statement using the data below: Sales $3,200,000 2,000,000 Food Beverages Sales Beginning Inventory Purchases Ending Inventory Cost of Sales Gross Profit Expenses $1,000,000 $ 2,000,000 900,000 Gross Profit Expenses Labor Other Operating Exp. Depreciation Interest Expense Total Expenses Income Before Taxes Income Taxes NET INCOME $1,000,000 $1,404,000 $ 105,000 $ 242,000 $ 165,000 $1,000,000 STATEMENT OF RETAINED EARNINGS Retained Earnings, December 31, 2019 Net Income Subtotal Cash Dividends Paid This Year Retained Earnings, December 31,2019 What is the Gross Profit % $ 60,000