QUESTION 9 Marriott had the following earnings numbers for 2002 ($ millions): net income 236 (also income from continuing operations), provision for income tax 134, interest expense = 109, depreciation & amortization 222. Marriott s EBIT for 2001 was: a. $236 million b. $701 million c. $479 million d. $345 million QUESTION 10 Hilton has the following cash flow & earnings numbers for 2002 ($ millions): cash flows from operations (154), cash flows from financing = (443), net income 166. Hilton had free cash flows of a. $431 million 585, cash flows for investing= b. $739 million c. $(12 million) d. $419 million QUESTION 11 Pro forma financial information: a. Is found in the statement of stockholders equity b. Usually focuses on pro forma earnings, usually on a non-GAAP basis c. Is always presented on a generally accepted accounting principles (GAAP) basis d. Is illegal QUESTION 12 ABC Co. records marketable securities as trading securities. This means that: a. These are recorded at fair value and gains & losses reported as extraordinary items b. These are recorded at fair value and gains & losses reported as operating income c. These are recorded at amortized cost d. These are recorded at fair value and gains & losses reported directly to stockholders equity