The 2019 and 2018 year end balance sheet along with the 2019 income statement for Jersey Kids LLC are shown below:

2019 and 2018 Balance Sheet

20192018

Cash$32,300$46,900

A/ R50,70058,300

Inventory70,50075,800

Net Fixed Assets504,500461,000

_______________________

$658,000$642,000

Accounts Payable$58,900$61,200

ST Notes Payable *20,00030,000

Long Term Debt134,700164,500

Owners Equity444,400386,300

__________________

$658,000$642,000

Note:* ST Notes Payable are all due in less than 1 year.

2019 Income Statement

Sales$642,100

Cost of Goods Sold409,800

Depreciation138,400

_____________

EBIT$93,900

Interest Expense15,600

__________

Taxable Income$78,300

Taxes20,200

__________

Net Income$58,100

1.The change in the Accounts Receivable and ST Notes Payable accounts represent:

-a source of cash in both cases

-a use of cash in both cases

-A source of cash for Accounts Receivable and a use of cash for Notes Payable

-A source of cash for Notes Payable and a use of cash for Accounts Receivable

-Net working capital of minus $2,400

-Net present value ("NPV")of positive $2,400

2.What was the company operating cash flow in 2019

-Between 0 and $50,000

-Between $50,000 and $100,000

-Between $100,000 and $150,000

-Between $150,000 and $200,000

-Between $200,000 and $250,000

-Greater than $250,000

3.Assume the firm had 75000 commonn shares outstanding. What would the company's. Earning per share would be for 2019?

-Between 0 and $1.00

Between $1.00 and $2,00

-Between $2.00 and $3.00

-Between $3.00 and $4.00

-Between $4.00 and $5.00

-Greater than $5.00

4.Which statement must be correct regarding the financial statements for Jersey Kids LLC

-The company paid dividends of $15,300 in 2019

-The financial statements were audited by Ernst & Young

-In 2019, the return on equity is equal to the return on assets

-The change in net working capital from 2018 to 2019 was $14,000

-The current ratio in 2019 is 2.5x

None of the above

5.Cash coverage ratio for 2019 is

-1.4

-3.2

-6.0

-7.9

-14.9

-18.5

6.Assume there were no sales of fixed assets during the 2018 - 2019 period.Which statement about fixed asset purchases must be true?

-There were no purchases of fixed assets during this period

-Purchases of fixed assets must have been $43,500

-Purchases of fixed assets must have been $138,400

-Purchases of fixed assets must have been $181,900

-Purchases of fixed assets were 224,600

-Purchases of fixed assets cannot be determined