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Which of the following would most likely decrease the payables level?

Which of the following current assets is most liquid?

When a firm grants credit to a customer, this gives rise to a(n):

Which of the following are the “5-C’s of Credit”?

 Which of the following functional areas is most likely to engage in short-term financial management?

Show Your Work Sunny Industries had sales of $1080 million and a cost of goods sold of $660 million in 202X. A simplified balance sheet for the firm appears below:   Sunny Industries Balance Sheet As of December 31, 202X (millions of dollars)   Assets     Liabilities and Equity   Cash 25   Accounts payable 60 Accounts receivable 85   Notes payable 425 Inventory 90   Accruals 45 Total current assets 200   Total current liabilities 530 Net plant, property, and equipment 6100   Long term debt 2725 Total assets 6300   Total liabilities 3255       Common equity 3045       Total liabilities and equity 6300   a.  Calculate Sunny’s Days Inventory Held   b. Calculate Sunny’s Days Sales Outstanding   c. Calculate Sunny’s Days Payable Outstanding   d. Calculate Sunny’s cash conversion cycle

USE THE FOLLOWING FACT SET TO ANSWER QUESTIONS 31 – 33: Walt Disney Corp. prepares its Statement of Cash Flows using the indirect method and had the following statements prepared as of December 31, 2025: Additional Data for 2025: Net Income = $41,000 Depreciation of plant assets = $12,700 Sold land for $33,000 cash Paid cash dividends of $15,000 Purchased equipment for $26,500 cash Purchased equipment for $60,000 by issuing a long-term note payable Paid $40,000 long-term note payable by issuing common stock   QUESTION 33 –> What amount will Walt Disney report as net cash provided (used) by Financing Activities? *Hint – Check your work! The sum of the cash flows from problems 31-33 should equal the change in cash during the year*

Al’s Toy Barn had the following transactions occurring in the current year: Cash sale of inventory. Purchasing a building. Issuing bonds. Cash sale of a delivery truck at book value. Issuance of a note payable to a bank for cash. Collection of principal of a note receivable (N/R to another entity) Collection of cash dividends from an equity investment (stock of another entity) Issuance of Al’s Toy Barn common stock. Sale of an equity investment (sale of stock in other entity) How many of the above items will appear as cash inflows from investing activities on the statement of cash flows for the current year?

USE THE FOLLOWING FACT SET TO ANSWER QUESTIONS 28 – 30: Viktor’s Airport Concession Co. prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2024, Navorski reports the following: Sales revenue                                                                         $3,210,000 Cost of goods sold                                                                  $1,575,000 Gross profit                                                                             $1,635,000 Operating expenses (including $5,000 in depr. exp.)          .    $95,000 Net income                                                                              $1,540,000 In addition, the following balance sheet accounts changed during 2024: Decrease in accounts receivable  $915,000 Increase in prepaid rent                 $16,700 Increase in inventory                      $72,000 Increase in accounts payable        $108,000 Decrease in salaries payable         $8,000 QUESTION 30 –> What is the amount of cash payments for operating expenses reported by Navorski for the year ended December 31, 2024?

Pizza Planet had the following 2025 income statement: Sales revenue                                                                           $200,000 Cost of goods sold                                                                   $119,000 Gross profit                                                                               $81,000 Operating expenses (includes depreciation of $23,000)     $47,000 Net income                                                                               $34,000 In addition, the following balance sheet accounts changed during 2025: Accounts Receivable increased $12,000 Inventory increased $10,000 Accounts Payable increased $12,000 What amount of Net Cash Provided (Used) by Operating Activities will Pizza Planet for the year ended December 31, 2025?