what of the following describes the operation

26) Felix Company uses the indirect method to prepare the statement of cash flows Refer to the following income statement Felix Company Income Statement Year Ended December 31, 2015 245,000 2,000 5,000 Sales Revenue Interest Revenue Gain on Sale of Plant Assets Total revenues and gains Cost of Goods Sold Salary Expense Depreciation Expense Other Operating Expenses Interest Expense Income Tax Expense Total Expenses Net Income (loss) $252,000 118,000 43,000 13,000 25,000 1,500 206,000 Additional information provided by the company includes the following 1) Current assets, other than cash, increased by $24,000 2) Current liablities decreased by $1,000 How much is the net cash provided by operating activities? A) $34,000 B) $29,000 C) $21,000 D) $39,000 27) Martin Company is preparing its statement of cash flows using the indirect method, During the f cash. The net book value of the asset prior to sale was $5,550 year, they sold equipment for $5,990 Which of the following statements is true? of $5,990 would be shown as a positive cash flow in the investing activities A) The cash receipt B) The gain on sale of $440 would be shown as a positive cash flow in the financing activities C The gain on sale of $440 would be added back to net income in the operating activities D) The book v section section. section activities section 28) Clark Company uses the indirect method to prepare its statement of cash hows Refer to t the following information for the year 2015 Net cash provided by operating activitles $39.000 Net cash used for investing activities $(25,000) Net cash provided by financing activities $1200 How much was the net change in cash during the year? A) $(15,200) B) $(13.500 ) $15.200 D) $37,500 29) Which of the following sections of the statement of cash flows include activities that affect Net Income on the income statement? (Assume the indirect method is used.) A) the financing section B) the investing section C) the operating section D) the non-cash investing and financing section 30) Avatar Company uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet Avatar Company Comparative Balance Sheet December 31, 2014 and 2013 2014 2013 Increase/decrease Accounts Payable Accrued Liabilities Long-Term Notes Payable Total liabilities $4,000 $6,000 1,000 90,000 $90,000 $97,000 2,000 84,000 1,000 (6,000) S(7 How will the change in Accounts Payable be shown on the statement of cash flows? A) as a deduction fron investing cash flows C) as a deduction from Net Income B) as an addition to operating cash flows D) as an addition to Net Income 31) Which of the following is the base amount when performing vertical analysis of a balance sheet? A) total assets C) net income B) total cash and cash equivalents D) gross profit 32) A corporation has 2,000 shares, 10% preferred stock of$50 par, and 6,000 shares of common stock outstanding The net income for the year is $250,000. Calculate earmings per share A) $50 B) S42 C) $125 D) $40 33) The issue of Common Stock for cash will be shown as a A) negative cash flow in the investing section of the statement of cash flows B) negative cash flow in the financing section of the statement of cash flows C) positive cash flow in the investing section of the statement of cash flows D) positive cash flow in the financing section of the statement of cash lows 34) Which of the following sections of the statement of cash flows include activities that increase and decrease long-term liabilities and stockholders' equity? A) the investing section B) the non-cash investing and financing section C) the financing section D) the operating section 35) Which of the following saections from the statenent of cash flows include the cash paid for the purchase of Treary Stock? A) the operating section B) the investing section C) the financing section D) the non-cash investing and financing