There are 26 multiple choice questions worth 3.3 points each and 2 short answer/essay questions worth 7 points each for a total of 28 questions worth 100 points MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question 1. In comparison to industry averages, Okra Corp, has a low inventory turnover, a high current ratio and an average quick ratio. Which of the following would be the most reasonable inference about Okra Corp.? A. Its inventory level is too high. B. Its cash and securities balance is too low C. Its current liabilities are too low. D. Its cost of goods sold is too low. 2. A times-interest-earned ratio of 3.5 indicates that the firm: A. has interest expense equal to 3.5% of net income. B. has interest expense equal to 3.5% of EBIT. C. has EBIT equal to 3.5 times its interest expense. D. pays 3.5 times its earnings in interest expense. 3. At the end of 2017, Stacky Corp, had $500,000 in liabilities and a debt-to-assets ratio of 0.5. For 2017, Stacky had an asset tumover of 3.0. What were annual sales for Stacky in 2017? A. $333,333 B. S1,200,000 C. $1,800,000 D. $3,000,000 4. How is the statement of cash flows connected to the balance sheet? A. The statement of cash flows shows changes in the asset and liability accounts to explain cash from operating activities B. The changes in all revenue and expense accounts are calculated and then listed as cash C. D. Changes inflows or outflows. The changes in all of the balance sheet accounts are calculated and then listed as inflows or outflows, except for cash. in asset accounts are recorded as operating activities, changes in liability accounts are recorded as financing activities and changes in equity accounts are recorded as investing activities