Quzi

Quiz 1

1. A list of assets, liabilities and equity can be found on which of the following financial statements?

A. Balance Sheet

B. Income Statement

C. Statement of Assets and Liabilities

D. Statement of Cash Flows

E. Statement of Stockholders’ Equity

2. The Goodyear Tire & Rubber Company’s December 31, 2011 financial statements reported the following (in millions)

|Total assets |$17,629 |

|Total liabilities |16,005 |

|Total shareholders’ equity |1,624 |

|Net income (loss) |343 |

|Dividends |185 |

| |$ 866 |

|Retained earnings, December 31, 2010 | |

What did Goodyear report for Retained earnings at December 31, 2011?

A) $1,624 million

B) $1,209 million

C) $ 523 million

D) $2,833 million

E) $1,024 million

3. On October 2, 2011 Starbuck’s Corporation reported, on its Form 10-K, the following (in millions):

|Total assets |$7,360.4 |

|Total stockholders’ equity |4,387.3 |

|Total current liabilities |2,075.8 |

What did Starbuck’s report as Total liabilities on October 2, 2011?

A) $7,360.4 million

B) $2,075.8 million

C) $2,973.1 million

D) $2,311.5 million

E) None of the above

4. Intel Corporation reported the following on its 2007 income statement (in millions)

|Sales revenue |$38,334 |

|Gross profit |$19,904 |

|Total expenses...