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a.Cumberland Industries's 2010 sales were $455,000,000; operating costs (excluding depreciation) were equal to 85% of sales; net fixed assets were $67,000,000; depreciation amounted to 10% of net fixed assets; interest expenses were $8,550,000; the state-plus-federal corporate tax rate was 40%; and Cumberland paid 25% of its net income out in dividends. Given this information, construct Cumberland's 2010 income statement. Also calculate total dividends and the addition to retained earnings.
b.Cumberland Industries's partial balance sheets are shown below. Cumberland issued $10,000,000 of new common stock in 2010. Using this information and the results from part a, fill in the missing values for common stock, retained earnings, total common equity, and total liabilities and equity.
A corporation makes a single product that it sells for $18 a unit. Fixed costs are $76,000 per month and the product has a contribution margin ratio is 40 percent.
The Earned Income Tax Credit is a very effective program, so much so that some people are urging its expansion instead of raising the minimum wage. Discuss the pros and cons of expanding the ETIC. Ignore the minimum wage in your answer.
The factoring department of Inter American Bank is processing 100,000 invoices each year with an average invoice price of $1,500. IAB buys the account receivables at 3.5% off the invoice value.
Assume authors' royalties are reduced and sales remain constant; how much more money can the publisher put into advertising (a fixed cost) and still break even?
The Fisayo Corporation wants to achieve a steady 7 percent growth rate. If it can achieve a 12 percent return on equity. What percentage of earnings must Fisayo retain for investment purposes?
What is the after-tax cost of debt financing and KKOL., Inc has just issued a 10-year $1,000.00 par value, 10% annual coupon bond for a net price of $964.00.
Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places.
11. A large organic farm operation had sales of $24 million, total assets of $18 million, and total debt of $7 million. If the profit margin is 8%, what is return on assets (ROA)?
Pulp Paper Corporation and Holt Paper Corporation are able to generate earnings before interest and taxes of $150,000.
In the current year, Melissa, a single employee whose AGI is $100,000 before any of the items below,ncurs the following expenses.
A firm is considering a project that will generate perpetual after-tax cash flows of $22,500 per year beginning next year. The project has the same risk as the firm's overall operations and must be financed externally.
Explain how much would it receive for the bond where assuming the HOS could issue a zero coupon bond with a face value of $5,000
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