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Long-term financing needed At year-end 2014, total assets for Ambrose Inc. were $1.3 million and accounts payable were $365,000. Sales, which in 2014 were $2.8 million, are expected to increase by 20% in 2015. Total assets and accounts payable are proportional to sales, and that relationship will be maintained; that is, they will grow at the same rate as sales. Ambrose typically uses no current liabilities other than accounts payable. Common stock amounted to $400,000 in 2014, and retained earnings were $335,000. Ambrose plans to sell new common stock in the amount of $110,000. The firm's profit margin on sales is 3%; 65% of earnings will be retained. What was Ambrose's total debt in 2014? Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest cent. $ How much new long-term debt financing will be needed in 2015? Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest cent. (Hint: AFN - New stock = New long-term debt.) $
Aria Acoustics, Inc. (AAI), projects unit sales for a new seven-octave voice emulation implant as follows: Year Unit Sales 1 75,000 2 88,000 3 102,000 4 97,000 5 78,000 Production of the implants will require $1,540,000 in net working capital to star..
Briefly explain the following statement: For the most part the market for financial securities is efficient while the market for capital budgeting ideas is not.
How many shares of common stock can be obtained by converting one $1,000 par value debenture; that is, what is the conversion ratio? What was the conversion value of this issue when these debentures were originally issued?
Why does the binomial model converge to a specific value of the option as the number or time periods increase? To what value does the option converge? When "n" approaches infinity, to what famous model does the binomial model converge?
The notion of civic responsibility is important in understanding
$35.50 per share is the current price for Foster Farms' stock. The dividend is projected to increase at a constant rate of 4.50% per year. The required rate of return on the stock, rs, is 9.00%. What is the stock's expected price 3 years from today?
Xytex Products just paid a dividend of $1.62 per share, and the stock currently sells for $28. If the discount rate is 10 percent, what is the dividend growth rate?
Insurer X insures a large number of small property accounts with average premiums of $1,000. The policies range from a low of $600 to a high of $1,400 premium. Insurer X wants to grow but is inhibited by statutory surplus requirements. As the re-insu..
RAK, Inc., has no debt outstanding and a total market value of $250,000. Earnings before interest and taxes, EBIT, are projected to be $42,000 if economic conditions are normal. If there is strong expansion in the economy, then EBIT will be 18 percen..
The firm's debt ratio is currently 45%.- According to the residual distribution model , how large should Wei's dividend payout ratio be next year?
An investor purchased a 5%, $1000 30-year bond for $850 with 22 years to maturity. The interest was payable quarterly. The bond was kept for only 9 years and sold for $950 immediately after the 36th interest payment was received. What nominal and eff..
Define and then discuss the advantages and disadvantages of the following evaluation criteria; (1) the payback method; (2) the Net Present Value method; and (3) the Internal Rate of Return method. In your answer be clear to state the decision rule fo..
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