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At year-end 2015, Wallace Landscaping’s total assets were $1.2 million and its accounts payable were $325,000. Sales, which in 2015 were $2.5 million, are expected to increase by 15% in 2016. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $440,000 in 2015, and retained earnings were $300,000. Wallace has arranged to sell $85,000 of new common stock in 2016 to meet some of its financing needs. The remainder of its financing needs will be met by issuing new long-term debt at the end of 2016. (Because the debt is added at the end of the year, there will be no additional interest expense due to the new debt.) Its net profit margin on sales is 3%, and 55% of earnings will be paid out as dividends. What was Wallace's total long-term debt in 2015? Round your answer to the nearest dollar. $ What were Wallace's total liabilities in 2015? Round your answer to the nearest dollar. $ How much new long-term debt financing will be needed in 2016? (Hint: AFN - New stock = New long-term debt.) Round your answer to the nearest dollar. Do not round intermediate calculations. $
Suppose that you are a financial manager of a company that exports mainly to England. You expect to receive a huge payment in British pounds from your customer in a couple of months. To avoid the potential adverse move of British pound, you have deci..
Mr. Nailor invests $6,000 in a money market account at his local bank. He receives annual interest of 8% for 7 years. How much return will his investment earn during this time period? (Compound monthly)
Suppose two year treasury bonds yield 5%, while 1 year bonds yield 3%, risk free rate (r*) is 1% and the maturity risk premium is zero. a. Using the expectations theory, what is the yield on a 1 year bond 1 year from now? b. What is the expected infl..
Which of the following investment classes had the greatest average return based on recent historical data?
Nagle Hardware Supply is operating at full capacity with an annual sales level of $689,700 and assets of $468,000. The profit margin is 10 percent. What is the required addition to assets if sales are to increase by 7 percent? $3,276 $4,680 $28,400 $..
As part of its overall plant modernization and cost reduction program, the management of Tanner-Woods Textile Mills has decided to install a new automated weaving loom. In the capital budgeting analysis of this equipment, the IRR of the project was 2..
Your own 5,000 acres of farmland in Kansas and grow feed corn, currently selling at $3 per bushel. You expect to harvest about 1000 bushel per acre in August. Would you take any action regarding the future. What instrument would you use?
Developing a Balanced Scorecard In unit, you are exploring the need for organisations to measure and manage performance against objectives, as well as the potential effectiveness of tools such as Balanced Scorecards and Strategy Maps as aids in ca..
Dewey Cheetham and Howe Accounting firm is considering the purchase of $1,000 New Haven Muncipal Bond. The stated coupon rate is 5%, paid quarterly. The bond will matuure in 22 years. The YTM for similar bonds is 4%. What should be the market price b..
The total market value of Okefenokee Real Estate Company's equity is $3 million, and the total value of its debt is $2 million. The treasurer estimates that the beta of the stock currently is 1.1 and that the expected risk premium on the market is 10..
The new car costs $19,999. Two options; 1) down payment of 20% and finance the balance with no interest and payments for the first few months, 2) or get a rebate of $1,000 if pays cash. The financing alternative would require to pay $460 a month for ..
Provide your assessment as to your firm's degree of transaction exposure (as to whether the exposure is high or low). Explain your answer.
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