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Statement of Cash Flows You have just been hired as a financial analyst for Basel Industries. Unfortunately, company headquarters (where all of the firm's records are kept) has been destroyed by fire. So, your first job will be to recreate the firm's cash flow statement for the year just ended. The firm had $100,000 in the bank at the end of the prior year and its working capital accounts except cash remained constant during the year. It earned $5 million in net income during the year but paid $750,000 in dividends to common shareholders. Throughout the year, the firm purchased $5.4 million of machinery that was needed for a new project. You have just spoken to the firm's accountants and annual depreciation expense for the year is $460,000; however, the purchase price for the machinery represents additions to property, plant, and equipment before depreciation. Finally, you have determined that the only financing done by the firm was to issue long-term debt of $1 million at a 6% interest rate. What was the firm's end-of-year cash balance? Recreate the firm's cash flow statement to arrive at your answer. Write out your answer completely. For example, 5 million should be entered as 5,000,000. Round your answer to the nearest dollar, if necessary.
Many years ago, Minnow Bait and Tackle issued preferred stock. The stock pays an annual dividend equal to $6.80. If the required rate of return on similar-risk investments in 8%, what should be the market value of Minnow’s preferred stock?
Here is a present value question. Take note: this question is common in planning for college! To have $6,000 for a child's education in 10 years, what amount should a parent deposit in a savings account that earns 12 percent, compounded quarterly (h..
A computer costs $480 in the United States. The same model costs 550 euros in France. If purchasing power parity holds, what is the spot exchange rate between the euro and the dollar? Round your answer to two decimal places.
Halliford Corporation expects to have earnings this coming year of $2.63 per share. Halliford plans to retain all of its earnings for the next two years. For the subsequent two years, the firm will retain 49% of its earnings. It will then retain 23% ..
Comcast has paid the following annual dividends in the past. (Calculate next years divided)
The market price of a 4-year 6% coupon non-Treasury issue is $102.4083. Calculate the current yield. Calculate the yield to maturity. Compute the zero-volatility spread over the Treasury spot rate.
Suppose the 0.5-year zero rate is 6% and the 1-year zero rate is 8%. Consider a 1-year, plain vanilla, semi-annual pay, fixed-for-floating interest rate swap. What is the swap rate that will make this swap worth zero? What is the dollar duration of $..
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The Postal Service has just awarded Steve an additional contract that will require Steve to purchase six new tractors. He competed aggressively for the contract and spent a total of $45,000 in costs to prepare and submit the bid. Steve has narrowed h..
The ethical decision-making framework includes the concepts of ethical issue intensity, individual factors, organizational factors, and opportunity. Discuss how these concepts influence the ethical decision-making process.
TJ Industries has 7 million shares of common stock outstanding with a market price of $20.00 per share. The company also has outstanding preferred stock with a market value of $10 million, and 100,000 bonds outstanding, each with face value $1,000 an..
As a practical matter bondholders cannot completely absolve all the issues of a potential conflict of interest between themselves and stockholders, as a result bondholders. a) Physically track the movements of managers with advanced technology b) are..
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