Reference no: EM13338393
8) During 2006, Raine’s Umbrella Corporation had sales of$850,000. Cost of goods sold, administrative and selling expensesand depreciation were $630,000, $120,000 and $130,000 respectively.In addition, the company had an interest expense of $85,000 and atax rate of 35%. (ignore tax loss carry back or carry forwardprovisions).
a. What is Raine’s net income for 2006?
b. Raine paid out $30,000 in cash dividends. Is this possible?
c. If spending on net fixed assets and net working capital was zeroand if no new stock was issued during the year, what do you know about the firm’s long-term debt account?
9) Guthrie Corporation has current liabilities of $340,000, a quickratio of 1.8, inventory turnover of 4.2, and a current ratio of3.3. What is the cost of goods sold for the company?
10) The Le Bleu company has a long term debt ratio of 0.70 and acurrent ratio of 1.20. Current liabilities are $850, net sales are$4,310, net profit margin is 9.5% and ROE is 21.5%. What is the amount of the firm’s net fixed assets
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