The following information has been reported by Laporte Inc. on its statements of financial position at December 31, 2016 and 2017, and on its statement of earnings for the year ended December 31, 2017. Amounts are in millions of dollars: Statements of Financial Position 2017 2016 $ 100 $ 75 Cash Accounts receivable Merchandise inventory Long-term investments Property, plant, and equipment Accumulated depreciation 50 38 41 46 32 168 (82) 224 (72) Total assets $343 $277 $ 38 7 Accounts payable Income taxes payable Long-term borrowings Contributed capital Retained earnings 52 8. 95 139 35 130 52 64 Total liabilities and shareholders' equity $343 $277 Statement of Earnings $ 175 (105) Sales Cost of sales Gross profit Depreciation expense Other operating expenses 70 (10) (42) Earnings from operations Gain on sale of investments 18 8 Loss on sale of equipment (2) Earnings before income tax Income tax expense 24 Net earnings $ 16 Additional information is as follows: a. Old equipment was sold for cash during 2017. It had an original cost of $34 and an accumulated depreciation of $20. b. A new building was acquired during the year in exchange for a long-term note for $60, payable in five years. In addition, new equipment was purchased for cash. Required: 1. Prepare the operating activities section of the statement of cash flows for Laporte Inc. for the year ended December 31, 2017 by using the indirect method. (Negative answers should be indicated by a minus sign. Enter your answers in millions.) LAPORTE INC. Statement of Cash Flows (Partial) For the Year Ended December 31, 2017 Cash flows from operating activities: Net earnings Add (deduct) items not affecting cash: 2$ 16 Depreciation expense 10

Text Predictions: On ABC Inc. Balance Sheet as at December 31, 2015 and 2016 ($ thousands) Current Assets Cash Accounts Receivable Inventory Total Current Assets Fixed Assets Property, Plant & Equipment Less Accumulated Depreciation Property, Plant & Equipment, net Total Assets Liabilities and S/H Equity Current Liabilities Accounts Payable Notes Payable and short-term debt Total Current Liabilities Long-Term Debt Shareholders' Equity Common Shares Paid-In Capital Retained Earnings Total Total Liabilities and S/H Equity ABC Inc. Income Statement for 2015 and 2016 ($ thousands) Revenue Cost of Goods Sold Operating Expenses Depreciation Earnings Before Interest & Taxes (EBIT) Interest Paid Income Before Taxes (EBT) Taxes Paid Net Income (NI) Dividend Accessibility: Investigate 2015 $ 200 450 550 $1,200 2.200 (1.000) 1,200 $2,400 $ 200 0 $ 200 $ 600 300 600 700 $1,600 $2,400 2015 $1,200 700 30 220 S 250 50 $ 200 180 $ 120 $ S 2016 $ 150 425 625 $1,200 2016 $1,450 850 40 200 $360 160 $ 300…

The financial statements of Clearwater Furniture Company include the following items: Cash OA. 0.12 OB. 0.27 OC. 0.21 Short-term Investments Net Accounts Receivable Merchandise Inventory Total Assets Total Current Liabilities Long term Note Payable 2017 $63,500 28,000 94,000 157,000 531,000 234,000 62,000 2016 $51,000 17,000 106,000 143,000 544,000 217,000 52,000 Using the following formula, what is 2017 cash ratio? (Round your answer to two decimal places.). FORMULA: Cash ratio (Cash + Cash equivalents)/Total current liabilities

QUESTION: SWISS GROUP REPORTS A NET INCOME OF $40,000 FOR 2017. AT THE BEGINNING OF 2017, SWISS GROUP HAD $200,000 IN ASSETS. BY THE END OF 2017, ASSETS HAD GROWN TO $300,000. WHAT IS SWISS GROUP'S 2017 RETURN ON ASSETS?