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30.500 Income Summary Hary. Capital Sally. Captal Harry, Captal Sally, Capital 20. 17.320 13,180 Income Summary 0.500 Income ummary Hary, Capital Sally, Capital 30.500 17300 13.180 Patt, and Harry share inecome on a :12 basis They have capital balances of 25.000, $30.000, and 320,000, respectively, when Thomas is admitted to the partnership. Thomas purchases of 60% of Pattcs poues for S5.000 in he rash received recorded in the partnership? Yes a. b. No 36 For ESA Partnership, beginning capital baances on January 1. 2020, are Eric S60,000 and Amy Additional investments during 2020 by each partner ace Ene S30.000 and Amy $70,000. During the year drawings were Eric $10,000 and Amy $20.000. Net income was $100.000, and the partners share ncome Eric 60% and Amy 40% What is Amy's Capital at December 31, 20207 $100.000 $110,000 a. b. $130,000 $140.000 d. 37. The Current Ratio is a Total Assets divided by Total Liabilities b. Current Assets divided by Current Liabilities C. Current Ratio divided by Current Liabilites d. Cash +Short-term Investments divided by Current Liabiities 38. The Accounts Receivable Turnover is Net Credit Sales divided by Cost of Goods Sold a. Cost of Goods Sold divided by Average Accounts Receivable b. Average Accounts Receivable divided by Cost of Goods Sold C. Net Credit Sales divided by Average Accounts Receivable d. Earnings Per Share (EPS) is a. b. 39. Net Income-Preferred Dividends divided by authorized common shares Net Income-Preferred Dividends divided by issued common shares Net Income-Preferred Outstanding Shares divided by Weighted Average Common Shares Outstanding Net Income-Preferred Dividends divided by Weighted Average Common Shares Outstanding C. d. uestions 40-49: Identify the section of the Statement of Cash Flows that each item appears in using the llowing choices: Non-cash Investing or Financing Activity Not on the cash flow statement d. Cash from Operating Activity b. Cash from Investing Activity C. Cash from Financing Activity a. e. Sale of Building for Cash of Treasury Stock for Cash ommon stock

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