QUESTION 9 A machine with a cost of $130,000 and accumulated depreciation of $85,000 is sold for $50,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is: O $45,000 O Zero. This is an operating activity $5,000 O Zero. This is a financing activity $50,000 QUESTION 11 Refer to the following selected financial information from McCormik, LLC. Compute the company's accounts receivable turnover for Year 2. Year 2 Year 1 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable INet sales Cost of goods sold 8.28. $37,500 90,000 85,500 121,000 12,100 388,000 113,400 711,000 390,000 36,850 90,000 86,250 117,000 13,500 392,000 111.750 706,000 385,500 7.90 8.94 5.78 O 8.62 QUESTION 14 A company is considering purchasing a machine for $21,000. The machine will generate an after-tax net income of $2,000 per year. Annual depreciation expense would be $1,500. The machine has no salvage value. What is the approximate accounting rate of return? O 25% 33% 0 17% O 10% O 19% QUESTION 15 A corporation reports the following year-end balance sheet data. The company's debt-to-equity ratio equals: Cash Accounts receivable Inventory Equipment Total assets O 0.63 O 0.58 O 2.07 O 0.37 O 1.27 $40,000 Current liabilities 55,000 Long-term liabilities 60,000 Common stock 145,000 Retained earnings $300,000 Total liabilities and equity $75,000 35,000 100,000 90,000 $300,000 QUESTION 16 A company's income statement showed the following: net income, $134,000; depreciation expense, $30,000; and gain on sale of plant assets, $4,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400; merchandise inventory increased $18,000; prepaid expenses increased $6,200; accounts payable increased $3,400. Calculate the net cash provided or used by operating activities. O $88,600 O $141,000 O $96,600 $156,600 O $148,600