QUESTION 19 On a spreadsheet used to prepare the operating activities section of the statement of cash flows, depreciation expense does not require an entry in the Analysis of Changes columns because it is a noncash item. True False QUESTION 20 Investing activities include: (a) the purchase and sale of long-term assets, (b) loaning money in return for notes receivable, and (c) the purchase and sale of short-term investments. True False QUESTION 21 Zhang Company reported Cost of goods sold of $835,000, average Inventory of $41,750, and Net sales of $2,338,000. The Inventory turnover ratio is: 0.5 times. 56 times. 19 times. 418 times. 20 times