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MAsterTech is a new software company that develops and markets productivity software for municipal government applications. In developing their income statement, the following formulas are used:
gross profit = net sales - cost of sales
net operating profit= gross profit - administrative expenses - selling expenses
net income before taxes = net operating profit - interest expense
net income = net income before taxes - taxes
Net sales are expected to be $1,250,000. Costs of sales is estimated to be $300,000. Selling expenses have a fixed component that is estimated to be $90,000 and a variable component that is estimated to be 8% of net sales. Administrative expenses are $50,000. Interest expenses $8,000. The company is taxed at a 50% rate. Develop a spreadsheet model to calculate the net income. Design your spreadsheet using good spreadsheeet-engineering principles.
Include profitability, liquidity, leverage, and activity ratios for which you have data available (data may not be available for all ratios - just use what's available in the case). Present your calculations in table format.
Nymeria buys a promissory note off of Yolanda for $300. Nymeria buys the note in good faith, and she is unaware of the fact that Yolanda secured the note from Georgia through Fraud in the Inducement. Nymeria seeks to enforce the note. Can she?
A project that provides annual cash flows of $12,300 for 9 years costs $70,836 today. If the required return is 3 percent, the NPV for the project is $ _________ and you would accept the project. At a discount rate of _________ percent, you would be ..
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The nominal yield on 6-month T-bills is 7%, while default-free Japanese bonds that mature in 6 months have a nominal rate of 4.5%. In the spot exchange market, 1 yen equals $0.008. If interest rate parity holds, what is the 6-month forward exchange r..
Superlink Inc. is considering an investment that has the following cash flows: What is the payback period for the investment project? What is the project's NPV if the firm's cost of capital is 12%?
The maintenance cost on a machine is expected to be $5,000 during the first year, $6,000 during the second year, and to increase $500 each year for the following 9 years. What present sum of money should be set aside now to pay for the required maint..
St. Payne Med Center is using the step-down method to allocate costs. They have two support departments (Record Keeping and Cleaning), and two patient service departments (Eye Care and Dental Care). Some of the Record Keeping costs are allocated to C..
You can buy or sell a 3.5% $1000 par U.S. Treasury Note that matures in exactly 6 years (meaning it pays (.035/2)*1000 coupon payments every 6 months, starting 6 months from now through maturity, and repays principal on maturity), with a current yiel..
Number of Periods of an Annuity You have $42,149.51 in a brokerage account, and you plan to deposit an additional $5,500 at the end of every future year until your account totals $250,000. You expect to earn 10.7% annually on the account. How many ye..
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