rn Prepare a written response to the following items. Save your response in a Word document or

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Prepare a written response to the following items. Save your response in a Word document or PDF file named YourLastName_W2 and upload the file to the Week 2 Activity assignment drop box on the Week 2 page in Blackboard by 11:59 PM on Monday, September 21, 2020. 1. Alex and Jane are partners in a small business; the total assets of the business are $400,000. The business has been sued by a customer; the customer is seeking damages of $750,000. Alex and Jane do not have insurance. What resources can be used to pay the customer $750,000 in the event the business is found liable? Why? 2. Use the attached balance sheet to answer the following questions. What is the largest source of long-term cash being used by the company? How will this source probably affect the company's use of cash on an ongoing basis? (4 points) What is the company's largest investment in short-term assets? Describe these types of assets. (4 points) For common stockholders, what is their amount of investment in the company? Why? (4 points) d. How much has the company invested in long-term assets? Why are these assets important for the company's success? (4 points) Use the attached income statement to answer the following questions. How much did the company spend to create the goods and services it sold? (3 points) Does the company have debt? Why or why not? (4 points) How much income is available to common stockholders? (3 points) 3. a. b. C. a. b. C. Prepare a written response to the following items. Save your response in a Word document or PDF file named YourLastName_W2 and upload the file to the Week 2 Activity assignment drop box on the Week 2 page in Blackboard by 11:59 PM on Monday, September 21, 2020. 1. Alex and Jane are partners in a small business; the total assets of the business are $400,000. The business has been sued by a customer; the customer is seeking damages of $750,000. Alex and Jane do not have insurance. What resources can be used to pay the customer $750,000 in the event the business is found liable? Why? 2. Use the attached balance sheet to answer the following questions. What is the largest source of long-term cash being used by the company? How will this source probably affect the company's use of cash on an ongoing basis? (4 points) What is the company's largest investment in short-term assets? Describe these types of assets. (4 points) For common stockholders, what is their amount of investment in the company? Why? (4 points) d. How much has the company invested in long-term assets? Why are these assets important for the company's success? (4 points) Use the attached income statement to answer the following questions. How much did the company spend to create the goods and services it sold? (3 points) Does the company have debt? Why or why not? (4 points) How much income is available to common stockholders? (3 points) 3. a. b. C. a. b. C.

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