Please answer 9-12 and explain why you picked that answer.

9. Which of the following statements is CORRECT a. The statement of cash flows reflects cash flows from operations, but it does not reflect the b. The statement of cash flows shows where the firm's cash is located; indeed, it provides a c. The statement of cash flows reflects cash flows from continuing operations, but it does not d. The statement of cash flows reflects cash flows from operations and from borrowings, but it e. The statement of cash flows shows how much the firm's cash-the total of currency effects of buying or selling fixed assets. listing of all banks and brokerage houses where cash is on deposit. reflect the effects of changes in working capital. does not reflect cash obtained by selling new common stock deposits, and short-term liquid securities (or cash equivalents)-increased or decreased during bank a given year 10. Brown Fashions Inc.'s December 31, 2014 balance sheet showed total common equity of $4,050,000 and 290,000 shares of stock outstanding. During 2015, the firm had $450,000 of net income, and it paid out $100,000 as dividends. What was the book value per share at 12/31/15, assuming no common stock was either issued or retired during 2015? (Round your final answer to two decimal places.) a. $11.53 b. $18.51 c. $14.11 d. $13.96 e. $15.17 11. Vasudevan Inc. recently reported operating income of $5.35 million, depreciation of $1.20 million, and had a tax rate of 40%. The firm's expenditures on fixed assets and net operating working capital totaled $0.6 million. How much was its free cash flow, in millions? a. $3.54 b. $3.05 c. $3.81 d. $3.39 e. $4.57 12. Which of the following statements is CORRECT? a. Other things held constant, the more debt a firm uses, the higher its operating margin will be. b. Debt management ratios show the extent to which a firm's managers are attempting to magnify returns on owners' capital through the use of financial leverage. c. Other things held constant, the more debt a firm uses, the higher its profit margin will be. d. Other things held constant, the higher a firm's total debt to total capital ratio, the higher its TIE ratio will be. e. Debt management ratios show the extent to which a firm's managers are attempting to reduce risk through the use of financial leverage. The higher the total debt to total capital ratio, the lower the risk