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Use the following information about the current year's operations of a company to calculate the cash paid for merchandise.

Cost of goods sold				$	230,000
Merchandise inventory, January 1					58,800
Merchandise inventory, December 31					61,000
Accounts payable, January 1					58,000
Accounts payable, December 31					63,800
		$222,000.
		$230,000.
		$226,400.
		$233,600.
		$238,000.

13

A company had net cash flows from operations of $138,000, cash flows from financing of $366,000, total cash flows of $554,000, and average total assets of $3,580,000. The cash flow on total assets ratio equals:

		24.9%.
		3.9%.
		4.1%.
		15.4%.
		15.5%.

Q

In preparing a company's statement of cash flows using the indirect method, the following information is available:

Net income	$	55,000
Accounts payable increased by		21,000
Accounts receivable decreased by		31,000
Inventories decreased by		8000
Cash dividends paid		17,000
Depreciation expense		26,000

Net cash provided by operating activities was:

		$125,000.
		$141,000.
		$30,000.
		$77,000.
		$76,000.

James Company has 3000 shares of $100 par preferred stock, which were issued at par. It also has 15,000 shares of common stock outstanding, and its total stockholders' equity equals $570,000. The book value per common share is:

		$15.00.
		$18.00.
		$100.00.
		$38.00.
		$31.67.

A company has 675 shares of $62 par value preferred stock outstanding. It also has 27,000 shares of common stock outstanding, and the total value of its stockholders' equity is $938,250. The company's book value per common share equals:

		$33.90.
		$34.75.
		$33.20.
		$33.50.
		$32.39.