1. A firm has a net capital spending of 20,000 for the year 2013. The firm purchased 50,000 in new fixed assets during the year 2013. How much in fixed assets must it have sold during 2013? 70,000; 30,000; 10,000; Impossible to Determine
2. You are forecasting next year's financial statements using the internal growth rate. Which of the following is the most appropriate "plug" for your forecast? Short-term debt, common stock, cash, or long-term debt?
3. A firm has a net income of $3,000, average tax rate of 25%, and marginal rate of 28%. What is the firm's taxable income?