Salsedo Corporation's balance sheet and income statement appear below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Cash and cash equivalents$31 $33 Accounts receivable 24 30 Inventory 53 47 Property, plant, and equipment 461 390 Less accumulated depreciation 306 256 Total assets$ 263 $ 244 Liabilities and stockholders' equity: Accounts payable$42 $49 Accrued liabilities 16 17 Income taxes payable 39 40 Bonds payable 75 90 Common stock 53 50 Retained earnings 38 ( 2) Total liabilities and equity$ 263 $ 244 Income StatementSales$ 634Cost of goods sold 400Gross margin234Selling and administrative expense 174Net operating income60Gain on sale of equipment 10Income before
taxes70Income taxes 21Net income$ 49Cash dividends were $9. The company sold equipment for $15 that was originally purchased for $10 and that had accumulated depreciation of $5. It did not issue any bonds payable or repurchase any of its own common stock.The net cash provided by (used in) investing activities for the year was:
A. $(66)
B. $66
C. $(81)
D. $15
Answer: A
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A. higher than firms that achieve either a cost or a differentiation advantage. B. about the same as firms that are "stuck-in-the-middle." C. at about the same level as firms that achieve either cost or differentiation advantages. D. lower than firms that achieve differentiation advantages but higher than firms that achieve cost advantages.
If convertible bonds are dilutive, the interest expense added back to the numerator in calculating diluted earnings per share is
a. net of tax, and includes discount and premium amortization. b. net of tax, but does not include discount and premium amortization. c. not net of tax, but includes discount and premium amortization. d. not net of tax, and does not include discount or premium amortization.
A ______ results from the pursuit of personal and national wealth, which leads to the depletion of energy resources and damage to the natural environment.
A. nonlocal orientation B. dilemma of the commons C. cultural homogeneity D. cultural convergence
All of the following are advantages of the direct strategy except A) saving the reader's time
B) respecting the feelings of the audience. C) setting a proper frame of mind. D) reducing frustration.