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USE THE DATA IN THE TABLE BELOW TO ANSWER QUESTIONS 9 - 1 7 The balance sheet accounts listed below are the only items on

USE THE DATA IN THE TABLE BELOW TO ANSWER QUESTIONS 9-17
The balance sheet accounts listed below are the only items on the companys balance sheet for each year and the
income statement accounts are the only items on the companys income statement for each year.
Category 20222023
Accounts payable 8,6008,300
Accounts receivable 8,9507,740
Accruals 5,2105,710
Additional paid in capital 9,0009,700
Cash 12,60011,710
Common Stock 2,0002,500
COGS 37,91041,480
Depreciation expense 2,5004,400
Interest expense 5,0006,000
Inventories 5,195???
Long-term debt 7,5608,450
Net fixed assets 52,42561,920
Notes payable 4,4003,900
Operating expenses (excl. depr.)23,49025,740
Retained earnings 42,40048,200
Sales 80,50089,800
Taxes 3,3004,100
9. Inventories in 2023 were $__________.
a.4,890
b.5,390
c.5,990
d.6,430
e.7,040
10. Net income in 2023 was $______.
a.7,680
b.7,880
c.8,080
d.8,780
e.9,680
11. Cash flows from operating activities in 2023 was $________.
a.10,435
b.11,005
c.12,895
d.13,695
e.13,795
12. Cash flows from financing activities in 2023 was $______.
a.-90
b.-290
c.-590
d.-690
e.-990
13. Cash flows from investing activities in 2023 was $______.
a.-13,295
b.-13,495
c.-13,695
d.-13,895
e.-14,095
14. Current ratio in 2023 was $__________.
a.1.13
b.1.36
c.1.39
d.1.42
e.1.87
15. How was the return on assets (ROA) in 2023 compared with that in 2022?
a. ROA in 2023 is better because it is lower than that in 2022.
b. ROA in 2023 is better because it is higher than that in 2022.
c. ROA in 2023 is worse because it is lower than that in 2022.
d. ROA in 2023 is worse because it is higher than that in 2022.
e. ROA is the same in 2023 that it was in 2022.
16. COGS in 2023 were _____% on a common-sized income statement.
a.45.13
b.45.80
c.46.19
d.46.29
e.46.40
17. ROE in 2023 was ____%.
a.12.72
b.13.05
c.13.38
d.14.11
e.14.59

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