1. Cash provided by operating activities: Question 1 options: summarizes cash flows relating to the purchase and disposal of long-lived assets. decreases when long-term debt is repaid. may be larger than net income. equals the change in cash for the year.

2. Nancy's Cookie Shop reported equipment at $120,000 and $30,000 accumulated depreciation on its December 31, 2013, balance sheet. During 2014, the shop purchased equipment costing $30,000 and sold equipment costing $10,000 (book value $4,000) for $1,000. On December 31, 2014, net equipment was $98,000. Using the indirect method, Samantha's would report depreciation expense on its statement of cash flows for 2014 of: Question 2 options: $18,000. $14,000. $22,000. $30,000.

3. Short-term liquidity ratios include the: Question 3 options: acid-test ratio. payout ratio. debt to total assets ratio. profit margin ratio.

4. Sunshine Paint reported sales of $500,000, total assets of $300,000, total owners' equity of $160,000, current assets of $100,000, current liabilities of $40,000, and cash of $30,000. In a common-size analysis of the balance sheet, cash would be shown as: Question 4 options: 30%. 6%. 50%. 10%.