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Question $6$

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In a common$-$sized income statement, $100\%$ is the

Select one:

a$.$

net cost of goods sold

b$.$

net income

c$.$

gross profit

d$.$

sales

Question $7$

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A $15\%$ change in sales will result in a $15\%$ change in net income.

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True

False

Question $8$

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$$Harding Company$$Accounts payable

$$40,000$

Accounts receivable

$65,000$

Accrued liabilities

$7,000$

Cash

$30,000$

Intangible assets

$40,000$

Inventory

$72,000$

Long$-$term investments

$110,000$

Long$-$term liabilities

$75,000$

Marketable securities

$36,000$

Notes payable $($short$-$term$)$

$30,000$

Property, plant, and equipment

$625,000$

Prepaid expenses

$2,000$

$$

$$

Based on the data for Harding Company, what is the amount of working capital?

Select one:

a$.$

$$238,000$

b$.$

$$128,000$

c$.$

$$168,000$

d$.$

$$203,000$

Question $9$

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One reason that a common$-$sized statement is a useful tool in financial analysis is that it enables the user to

Select one:

a$.$

judge the relative potential of two companies of similar size in different industries

b$.$

determine which companies in a single industry are of the same value

c$.$

determine which companies in a single industry are of the same size

d$.$

make a better comparison of two companies of different sizes in the same industry