Prompt: Answer the three questions (your response should be a minimum of 150 words), and submit answers to the problems. From a Christian worldview and incorporating the assigned Scripture, what does it mean to be ethical in business dealings and corporate governance? What is the balance sheet identity? Discuss the book value of a firm versus its market value. What is meant by financial leverage? What is the definition of a noncash item? Describe one noncash item on the income statement. What is the income statement? The EPS? The net operating income? Discuss other major items on an income statement? Problems: BU, Inc. has current assets of $6,050, net fixed assets of $24,750, long-term debt of $11,400, and current liabilities of $4500. What is the value of the shareholders' equity account for the firm? What is the net working capital? Salty Chips has sales of $862,000, operating costs of $85,000, depreciation expense of $41,000, interest expense of $40,500 and a tax rate of 20%. What is the net income? What if the firm paid out $125,000 in cash dividends? What is the addition to retained earnings? 2019 2020 Sales $11,573 $12,936 Depreciation 1661 1736 Cost of goods sold 3979 4707