Which of the following items cannot be found on a firm's balance sheet under current assets? a.

Short-term Investments b.

Accrued Wages c.

Accounts Receivable d.

Inventory

During 2013, Bascom Bakery paid out $33,525 of common dividends. It ended the year with $197,500 of retained earnings versus the prior year's retained earnings of $159,600. How much net income did the firm earn during the year? a.

$82,683 b.

$78,746 c.

$74,996 d.

$71,425

Vasudevan Inc. recently reported operating income of $2.75 million, depreciation of $1.20 million, and had a tax rate of 40%. The firm's expenditures on fixed assets and net operating working capital totaled $0.6 million. How much was its free cash flow, in millions? a.

$2.03 b.

$2.25 c.

$2.14 d.

$1.93