1. The balance sheet of Cranium Gaming reports total assets of $400,000 and $700,000 at the beginning and end of the year, respectively. Sales revenues are $1.1 million, net income is $65,000, and...

1. The balance sheet of Cranium Gaming reports total assets of $400,000 and $700,000 at the beginning and end of the year, respectively. Sales revenues are $1.1 million, net income is $65,000, and operating cash flows are $55,000. Calculate the cash return on assets, cash flow to sales, and asset turnover for Cranium Gaming.

2. The balance sheet of Innovative Products reports total assets of $520,000 and $720,000 at the beginning and end of the year, respectively. The cash return on assets for the year is 20%. Calculate Innovative Products’ net cash flows from operating activities (operating cash flows) for the year.