Question 17 (3.333 points) Which of the following statement is INCORRECT? A) Costs of Construction/Direct Costs are variable cost B) Total Variable Cost = Direct Cost + Variable Operating Expense OC) Fixed operating expense changes as revenue increases or decreases in the relevant range. DI Variable oneratine evnence is variable rost Question 18 (3.333 points) Answer this question based on the data from the following balance sheet. Current ratio for the period ending 2004 is approximately: Account 12/31/2004 Assets Cash Accounts Receivable Material Inventory Under-billings Total Current Assets $50,000 $300,000 $180,000 $50,000 $580,000 Equipment (Gross) Less: Accumulated Depreciation Equipment (Net) $250,000 $100,000 S150,000 Total Assets S730,000 Equities Equities Liabilities Account Payable Over-billings Total Current Liability $150,000 $150,000 $300,000 Note Payable (Long Term Debt) $10,000 Total Liabilities $310,000 Net Worth Capital Stock Retained Earnings Total Net Worth $250,000 $170,000 $420,000 Total Equities S730,000 Total Equities S730,000 O A) 1.43 : 1 B) 0.93 : 1 C) 5.43 : 1 OD) 1.93 : 1