During Year 2, Chico Company earned $3,800 of cash revenue, paid $1,550 of cash expenses, and paid a $1,050 cash dividend to its owners. Based on this information alone, which of the following statements is not true? Multiple Choice Total assets increased by $1,200. Net income amounted to $2,250. Cash outflow from investing activities was $1,050. Cash inflow from operating activities was $2,250.

During Year 2, Chico Company earned $3,800 of cash revenue, paid $1,550 of cash expenses, and paid a $1,050 cash dividend to its owners. Based on this information alone, which of the following statements is not true? Multiple Choice Total assets increased by $1,200. Net income amounted to $2,250. Cash outflow from investing activities was $1,050. Cash inflow from operating activities was $2,250.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated: Net sales $ 10,858 Total assets 4,405 End of year balance in cash 1,117 Total stockholders' equity 498 Gross profit (Sales − Cost of Sales) 2,601 Net increase in cash for the year 23 Operating expenses 2,049 Net operating cash flow 735 Other income (expense), net (24) Compute Orinoco's total liabilities at the end of the year. Multiple Choice $3,907 $3,166 $2,350 $4,405
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