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Master Tech is a new software company that develps and markets productivity software for municipal government applications. In developing their income statement, the following fomulas are used: Gross profit = Net sales - Cost of sales Net operating profit = Gross profit - Admnistrative 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 $900,000. Cost of Sales is estimated to be $540,000. Selling expenses has a fixed component that is estimated to be $90,000, and a variable component that is estimated to be 7% of net sales. Administrative expneses are $50,000. Interest expenses are $10,000. The company is taxed at 50% rate. Develop a spreadsheet model to calculate the net income. Design your spreadsheet using good spreadsheet engineering principles.
A firm has a weighted average cost of capital of 10.295 percent and a cost of equity of 14.7 percent. The debt-equity ratio is 0.75. Tax rate is 32%. What is the firm's cost of debt? Sabrina's just paid an annual dividend of $0.88 per share. This div..
The five Cs of credit are character, capacity, capital, collateral, and conditions. Review each of the four items mentioned in the article and then state which one of the Cs each would represent.
Melbourne Company manufactures and sells electronic staplers for $16 each. If 10,000 units were sold in December and management forecasts 4% growth in sales each month, the number of electric stapler sales budgeted for March should be:
You bought one of Great White Shark Repellant Co.’s 11 percent coupon bonds one year ago for $810. These bonds make annual payments and mature 15 years from now. Suppose you decide to sell your bonds today, when the required return on the bonds is 14..
Scanlin, Inc., is considering a project that will result in initial aftertax cash savings of $1.77 million at the end of the first year, and these savings will grow at a rate of 1 percent per year indefinitely. What is the maximum initial cost the co..
Bob and Lisa are both married, working adults. They both plan for retirement and consider the $2,000 annual contribution a must. First, consider Lisa’s savings. She began working at age 20 and began making an annual contribution of $2,000 at the firs..
Jallouk Corporation has two different bonds currently outstanding. Bond M has a face value of $40,000 and matures in 20 years. The bond makes no payments for the first six years, then pays $2,000 every six months over the subsequent eight years, and ..
Soaring Eagles Corp. has total current assets of $11,522,000, current liabilities of $5,462,000 and a quick ratio of 0.77. What is its level of inventory?
Assume that Marriott uses only two WACC components – Debt and Equity (common stock). Calculate the WACC for each of the three Marriott divisions (lodging, contract services, and restaurants). Be sure to document and explain the reasons for any assump..
You have $250,000 in an IRA at the time you retire. You have the option of investing this money in two funds: Fund A pays 2.8% annually and Fund B pays 7.8% annually. How should you divide your money between Find A and Fund B to produce an annual int..
Michael's, Inc. just paid $2.15 to its shareholders as the annual dividend. Simultaneously, the company announced that future dividends will be increasing by 4.70 percent. If you require a rate of return of 8.9 percent, how much are you willing to pa..
ABC Industries is negotiating a lease on a new piece of equipment which would cost $100,000 if purchased. The equipment falls into the MACRS 3-year class, and it would be used for three years and then sold, because ABC plans to move to a new facility..
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