Question

. On which of the four major financial statements (balance sheet, income statement, statement of cash...

. On which of the four major financial statements (balance sheet, income statement, statement of cash flows, or statement of retained earnings) would you find the following items?

a. earnings before taxes

b. net plant and equipment

c. increase in fixed assets

d. gross profits

e. balance of retained earnings, December 31, 20xx

f. common stock and paid-in surplus

g. net cash flow from investing activities

h. accrued wages and taxes

i. increase in inventory

10. How does the payment of interest on debt affect the amount of taxes the firm must pay?

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Question 9

Answer
a. earnings before taxes Income statement
b. net plant and equipment Balance sheet
c. increase in fixed assets Statement of Cash flow
d. gross profits Income statement
e. balance of retained earnings, December 31, 20xx statement of retained earnings
f. common stock and paid-in surplus Balance sheet
g. net cash flow from investing activities Statement of Cash flow
h. accrued wages and taxes Balance sheet
i. increase in inventory Statement of Cash flow
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