Question: below is the balance sheet for these multiple choice please CONSOLIDATED BALANCE SHEET (in millions) Year Ending Dec. 31 2020 2019 ASSETS begin{tabular}{lcc} Cash and

below is the balance sheet for these multiple choice please

below is the balance sheet for these multiple choice please CONSOLIDATED BALANCESHEET (in millions) Year Ending Dec. 31 2020 2019 ASSETS \begin{tabular}{lcc} Cash

and Cash Equivalents & $1,000 & $800 \\ Accounts Receivable & 300

CONSOLIDATED BALANCE SHEET (in millions) Year Ending Dec. 31 2020 2019 ASSETS \begin{tabular}{lcc} Cash and Cash Equivalents & $1,000 & $800 \\ Accounts Receivable & 300 & 500 \\ Merchandise Inventory & 880 & 650 \\ Short Term Investments & 145 & 120 \\ \hline TOTAL CURRENT ASSETS & 2,325 & 2,070 \\ PP\&E, net accumulated depreciation of & 1,250 & 1,000 \\ \$600 in 2020 and \$500 in 2019 & & \\ \hline TOTAL ASSETS & $3,575 & $3,070 \\ \hline \hline \end{tabular} LIABILITIES \begin{tabular}{lcc} Accounts Payable & $530 & $500 \\ Other Payables & 410 & 362 \\ \hline TOTAL CURRENT LIABILITIES & 940 & 862 \\ & & \\ Mortgage Payable & 0 & 700 \\ Long-Term Bank Loan & 900 & 850 \\ \hline TOTAL LIABILITIES & 1,840 & 2,412 \end{tabular} OWNERS EQUITY Common Stock Preferred Stock Additional Paid in Capital Retained Earnings TOTAL OWNERS EQUITY 8070 TOTAL LIABILITIES + OWNERS EQUITY $3,575 $3,070 No Property, Plant \& Equipment (PPE) was sold during 2020. > No short-term investments were sold during the year. > All depreciation expense is included in SG\&A > Because there is no dividends payable account at either the start of end of the year, you may assume all dividends declared in 2020 were paid in 2020. What is Avett Inc.'s 2020 change in cash? Decrease of $200 Increase of $200 Decrease of $1,000 Increase of $1,000 Question 14 (5 points) How does Depreciation Expense impact Avett Inc.'s 2020 Statement of Cash Flows? Depreciation Expense is included as a positive adjustment in Cash Flows from Operations Depreciation Expense is included as a negative adjustment in Cash Flows from Operations Depreciation Expense is included as a positive adjustment in Cash Flows from Investing Depreciation Expense is included as a negative adjustment in Cash Flows from Financing Depreciation Expense is not included on the Statement of Cash Flows Depreciation Expense is included as a positive adjustment in Cash Flows from Financing Depreciation Expense is included as a negative adjustment in Cash Flows from Investing Question 15 (5 points) How does Accounts Payable impact Avett Inc.'s 2020 Statement of Cash Flows? The periodic change in Accounts Payable is added in Cash Flows from Financing The periodic change in Accounts Payable is not included on the Statement of Cash Flows The periodic change in Accounts Payable is subtracted in Cash Flows from Operations The periodic change in Accounts Payable is added in Cash Flows from Operations The periodic change in Accounts Payable is subtracted in Cash Flows from Investing The periodic change in Accounts Payable is subtracted in Cash Flows from Financing The periodic change in Accounts Payable is added in Cash Flows from Investing

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