QUESTION 12

1. Where would be the best place to look to determine the amount of dividends DECLARED?

   		Statement of Cash Flows
   		Income Statement
   		Notes to the financial statements
   		Statement of Changes in Shareholder's Equity

2.5 points

QUESTION 13

1. Albatross Shipping had 100,000 shares of common stock outstanding on January 1. On August 31, Albatross issued an additional 30,000 common shares. Albatross had 10,000 shares of treasury stock that they held all year. The weighted average number of common shares outstanding for the year was _____________ .

   		110,000
   		100,000
   		112,500
   		130,000

2.5 points

QUESTION 14

1. "Noncontrolling Interest" is:

   		the portion of equity in a subsidiary not attributable, directly or indirectly, to the parent company, and reported on the balance sheet within equity, but separate from the parent company's equity.
   		a component of the parent company's net income and reported on the income statement.
   		a component of stockholders' equity attributable to the parent company and reported on the balance sheet.
   		not reported within the parent company's consolidated financial statements, but instead reported within the minority stockholders' financial statements.

2.5 points

QUESTION 15

1. A company has subsidiaries in several foreign countries. You are interested in understanding the effect that converting the foreign currency amounts into US dollars has had on the financial statements of the parent company. Where is the best place to look for this information?

   		Management Discussion & Analysis
   		Consolidated Income Statement
   		Notes to the Financial Statements
   		Consolidated Statement of Comprehensive Income