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Sales Increase Maggie's Muffins, Inc., generated $2,000,000 in sales during 2013, and its year-end total assets were $1,700,000. Also, at year-end 2013, current liabilities were $1,000,000, consisting of $300,000 of notes payable, $500,000 of accounts payable, and $200,000 of accruals. Looking ahead to 2014, the company estimates that its assets must increase at the same rate as sales, its spontaneous liabilities will increase at the same rate as sales, its profit margin will be 7%, and its payout ratio will be 60%. How large a sales increase can the company achieve without having to raise funds externally; that is, what is its self-supporting growth rate? Do not round intermediate steps. Round your answers to the nearest whole. Sales can increase by $ , that is by %.
Systematic risk evaluates the probability and extent of negative consequences to the larger body. For example, the government has a record of intervening in the event of a probable bank failure; the government’s larger concern is the negative impact ..
Filer manufacturing has 9.1 million shares of common stock outstanding. The current share price is $61, and the book value per share is $3. Filer manufacturing also has two bond issues outstanding. The first bond issue has a face value of $71.6 milli..
Consider the following timeline detailing a stream of cash flows: If the current market rate of interest is 8%, then the present value of this stream of cash flows is closest to:
Consider what is true when NPV is positive, negative, and equal to zero. For instance, what is the relation between IRR and the required return, what is the impact on firm value, does the project earn more or less than the required return, should it ..
Assume that the firm in 12 above can add a new division at a cost of $80,000, which will increase NOPAT by $15,200. Would the firm add the division?
When Professor Show endows an annual lecture series at School of Public Administration at the University he stipulates that only the interest income derived from his gift may be used for to fund the program. The SPA places the gift in its ___________..
Microtech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect Microtech to begin paying dividends, beginning with a dividend of $1.50 coming 3 years from toda..
Martin’s Yachts has paid annual dividends of $1.40, $1.75, and $2.00 a share over the past three years, respectively. The company now predicts that it will maintain a constant dividend since its business has leveled off and sales are expected to rema..
A stock just paid a dividend of D0 = $1.50. The required rate of return is rs = 10.1%, and the constant growth rate is g = 4.0%. What is the current stock price?
Marten Corp has a 14% WACC with a 19% expected return on equity and a 60% debt-to-asset ratio. If Marten pays no income tax, what is the return on debt? If the debt-to-asset ratio increases to 80%, now what is Marten’s WACC?
Ritz Company sells fine collectible statues and has implemented activity-based costing. Costs in the shipping department have been divided into three cost pools. Cost Pool Total Costs Cost Driver Annual Activity. ackaging and shipping $164,700 Number..
A federal government contractor is considering buying a software package at a cost of $500,000. The software company will charge an annual maintenance fee of $30,000 payable at the beginning each year including the very first year. The contracting co..
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