True False O 0 1. Liabilities = Assets - Owners equity 0 O 2. Interest" more likely appears on an income statement than on a balance sheet. 0 O 3. Net income - Change in retained earnings = Dividends 0 0 4. Total assets Total liabilities = Net working capital 0 O 5. When calculating a change, the later value is subtracted from the earlier value. o O 6. Snapshot" more likely refers to an income statement than to a balance sheet. O 0 7. Depreciation is not treated as an operating expense. 0 0 8. Cash flow to owners = Cash flow from assets - Cash flow to creditors O O 9. Net income / Earnings per share = Number of shares outstanding o O 10. Rearview mirror more likely refers to finance than to accounting. O O 11. If cash flow to owners is $20,000 and cash flow to creditors = $80,000, cash flow from assets > $80,000. 12. If long-term debt this year = $5000, long-term debt last year = $3500 and depreciation = $1000, capital spending $2000. 15. Free cash flow is synonymous with cash flow from assets. O O O 16. If EBIT = $10,000, depreciation = $5000 and taxes = $2000, operating cash flow