#5	You have been given a comparative balance sheet for 2018 and 2017 and the Income Statement for 2018.
	Comparative Balance Sheet
		2017	2018
	Current Assets	2,205	$2,429
	Sales.		$4,507
	Net fixed assets	$7,344	$7,650
	Cost of Goods Sold.		$2,633
	Total Assets	$9,549	$10,079
	Gross Profit.		$1,864
	Depreciation		$952
	Current Liabilities	$1,003	$1,255
	Earnings before Interest and Taxes (EBIT)		$922
	Long Term Debt	$3,106	$2,085
	Interest Paid		$196
	Total Liabilities	$4,109	$3,340
	Earnings before Taxes (EBT)		$726
	Total Equity	$5,440	$6,739
	Taxes (21%)		$152
	Total Liabilities and Equity	$9,549	$10,079
	Net Income		$574
	Dividends Paid		$352
	Addition to Retained Earnings		$222
	After reviewing the dividends paid, the change in total equity and the addition to Retained earnings,
	Calculate the Cash Flow to Stockholders (CFS).
	A -$725
	B $1,077
	C $865
	D $725
#6	How do you calculate the Average Tax rate?
	Average tax rate = total taxes paid divided by total taxable income
	Average tax rate = the averages of taxes paid from previous years
	Average tax rate = total taxable income divided by total taxes paid
	Average tax rate = total taxes paid divided by earnings before interest and taxes
#7	What are the three components of Operating Cash Flows?
	Operating cash flow = EBIT + annual depreciation - corporate taxes paid
	Operating cash flow = EBIT - annual depreciation + corporate taxes paid
	Operating cash flow = EBIT + annual depreciation +corporate taxes paid
	Operating cash flow = EBIT - annual depreciation - corporate taxes paid