Question 7 of 10 A corporation may elect not to prepare a statement of cash flows. A True B. False Question 8 of 10 The former statement of changes in financial position presented information on the flow of financial resources into and out of a business. A True B. False Question 9 of 10 A company must publish a statement of cash flows for each period for which it publishes an income statement A True B. False Question 10 of 10 What is the rate earned on common stockholders' equity for the following data? Total current liabilities (noninterest bearing) - $300,000; bonds payable, 5% (issued in 2007, due in 20 years) - $600,000; preferred 6% stock, $200 par - $240,000; common stock, $20 par - $480,000; premium on common stock - $120,000; retained earnings - $420,000. Income before income taxes was $180,000 and income taxes were $78,000 for the current year. A. 7 percent B. 8.6 percent C. 9.1 percent D. 8.1 percent E. 6.1 percent