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Long-term financing needed At year-end 2014, total assets for Ambrose Inc. were $1.3 million and accounts payable were $365,000. Sales, which in 2014 were $2.8 million, are expected to increase by 20% in 2015. Total assets and accounts payable are proportional to sales, and that relationship will be maintained; that is, they will grow at the same rate as sales. Ambrose typically uses no current liabilities other than accounts payable. Common stock amounted to $400,000 in 2014, and retained earnings were $335,000. Ambrose plans to sell new common stock in the amount of $110,000. The firm's profit margin on sales is 3%; 65% of earnings will be retained. What was Ambrose's total debt in 2014? Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest cent. $ How much new long-term debt financing will be needed in 2015? Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest cent. (Hint: AFN - New stock = New long-term debt.) $
Competency 4.2 Mark Johnson is controller for a Pharmaceutical company. During the company’s midyear review, Johnson notes that the company’s R&D expenditures are already $3.0 billion, nearly 40% above the midyear target. In a meeting with the CFO la..
A home identical to yours in your neighborhood, sold last week for $150,000. Your home has a $120,000 assumable, 8% mortgage (compounded annually) with 30 years remaining. An assumable mortgage is one that the new buyer can assume at the old terms, c..
How can a company use licensing agreements to enter world markets? What two fundamental product strategies do companies choose between when selling their products in the global marketplace?
Total fixed and variable selling and administrative costs for the purchased ski boots would be $10 per pair. Burge uses machine hours to applicate factory overhead. Included in the factory overhead is $30,000 of fixed factory-wide overhead that ha..
Cottonwood received their new product catalogs ordered from a local print shop. The print shop billed Cottonwood $6,000 for 5,000 catalogs with payment terms of net 10.
Your brother has asked you to help him with choosing an investment. He has 6,700 to invest today for a period of two years. You identify a bank CD that pays an interest rate of 0.0500 annually with the interest being paid quarterly. What will be the ..
The Heuser Company's currently outstanding bonds have a 9% coupon and a 13% yield to maturity. Heuser believes it could issue new bonds at par that would provide a similar yield to maturity. If its marginal tax rate is 40%, what is Heuser's after-tax..
You are Jonathan Smith, the Executive Director (Sales) of Westpool Washing Machines. You manage three regions with a sales force of nearly 200 sales men and women. As Jonathan Smith, write a letter to Samuel Brown to express your disappointment (you ..
It is often stated that anyone with a pencil can calculate financial ratios, but it takes a brain to interpret them. What kinds of things should the analyst keep in mind when evaluating the financial statements of a given firm?
What did you find the most interesting in regards to migrating to a cloud solution from a customer perspective?
The dividend for Should I, Inc., is currently $1.50 per share. It is expected to grow at 16 percent next year and then decline linearly to a 4 percent perpetual rate beginning in four years. If you require a 12 percent return on the stock, what is th..
ABC Corp. is considering expansion of its production capacity by investing in a project with the following unlevered cash flows (UCF): Year 0: -$30 million Year 1: +$10 million Year 2: +$8 million Year 3 and all future years: +$5 million ABC Corp. Ig..
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