Which of the following statements is true?

Book value per share of common stock is calculated by dividing the common stockholders' equity by the number of common shares outstanding at year end.

Net income divided by average common stockholders' equity is the calculation for the return on common stockholders' equity.

Merchandise inventory turnover measures the relationship between sales and inventory.

The sum of the cash generated or used by each section of the statement of cash flows should equal the difference between the beginning and ending balance of the cash and cash equivalent accounts.

The following ratios are all profitability ratios:

- Net sales to assets

- Return on total assets

- Return on stockholders' equity

Financing activities are those transactions involving the purchase and sale of long-term assets, investing in equity securities, lending money, and collecting the principal on the related loans.