Please complete the following problems and prepare to submit your answers to the Assignment Dropbox. You can either submit a Word or Excel file, please do not type your answers into the textbox.
There are five questions, and each question is worth 5 points. The chapter quest is worth a total of 25 points.
1.Building a Balance Sheet. Romo, Inc., has current assets of $1,850, net fixed assets of $8,600, current liabilities of $1,600, and long-term debt of $6,100. What is the value of the shareholders equity account for this firm? How much is net working capital?
2.Building an Income Statement. Fyre, Inc., has sales of $625,000, costs of $ 260,000, depreciation expense of $79,000, interest expense of $43,000, and a tax rate of 35 percent. What is the net income for this firm? Also, calculate operating cash flow (OCF).
3.Dividends and Retained Earnings. Suppose the firm in Problem 2 paid out $60,000 in cash dividends. What is the addition to retained earnings?
4.Per-Share Earnings and Dividends. Suppose the firm in Problem 3 had 40,000 shares of common stock outstanding. What is the earnings per share, or EPS, figure? What is the dividends per share figure?
5.Market Values and Book Values. Klingon Widgets, Inc., purchased new cloaking machinery three years ago for $6 million. The machinery can be sold to the Romulans today for $5.6 million. Klingons current balance sheet shows net fixed assets of $4.8 million, current liabilities of $780,000, and net working capital of $100,000. If all the current assets were liquidated today, the company would receive $805,000 million cash. What is the book value of Klingons assets today? What is the market value?
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Additional requirements / suggestions to complete the assignments.
Question #2 Calculate Operating Cash Flow: (EBIT + Depreciation Taxes)
Questions #5: Hint: Construct 2 balance sheets:
Book value basis
Market value basis.
Calculate shareholders equity for each balance sheet.
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