Q1. Hanover, Inc. purchased land through the issuance of long-term bonds. How is this reported on the statement of cash flows?
Investing inflow
Financing outflow
Significant noncash investing and financing activity that merits disclosure
Operating activity
Q2. Ceradyne, Inc. presented the following data for a company:
Current liabilities $360Long-term debt480Common stock640Retained earnings520Total liabilities & stockholders equity$2,000
How would common stock appear on a common size balance sheet using vertical analysis?
32.0%
75.0%
Cannot be determined from the data given
55.1%