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QUESTION 5 The primary purpose of the statement of cash flows is to provide information about 1. the investing and financing activities of the company. 2. the cash inflows and outflows of the company. 3. the profitability of the company. 4. the financial position of the company. QUESTION 6 Cash flows from acquiring and disposing of long-term assets are classified as 1. operating activities. 2. purchasing activities. 3. financing activities. 4. investing activities. QUESTION 7 Long-term debt generally includes 1. obligations that will be satisfied within one year. 2. obligations that extend beyond one year. 3. accounts payable, because they are interest-bearing. 4. accrued expenses. QUESTION 8 Labor Finders, Inc. Selected data from the company's financial statements are presented below: 2020 $ 150,000 15,000 42,000 2019 $ 120,000 15,000 38,000 14 26 Net income Cash dividends paid on preferred stock Cash dividends paid on common stock Common stock price Preferred stock price Purchases of treasury stock Total stockholders' equity Common stockholders' equity Average number of preferred shares outstanding Average number of common shares outstanding 31 100,000 2,300,000 1,780,000 20,000 104,000 2,157,000 1,637,000 20,000 95,000 Refer to Labor Finders, Inc. The company's 2020 earnings per share is reported as 1. $1.20 2.$1.30 3. $1.43 4. $1.08

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