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Galaxy United, Inc. 2009 Income Statement ($ in millions) Net sales $8,500 Less: Cost of goods sold 7,210 Less: Depreciation 400 Earnings before interest and taxes 890 Less: Interest paid 86 Taxable Income 804 Less: Taxes 281 Net income $ 523 Galaxy United, Inc. 2008 and 2009 Balance Sheets ($ in millions) 2008 2009 2008 2009 Cash $ 110 $ 160 Accounts payable $1,110 $1,140 Accounts rec. 940 790 Long-term debt 1,030 1,308 Inventory 1,480 1,530 Common stock $3,110 $2,910 Sub-total $2,530 $2,480 Retained earnings 520 742 Net fixed assets 3,240 3,620 Total assets $5,770 $6,100 Total liab. & equity $5,770 $6,100 What is the quick ratio for 2009? 2.28 .95 .83 2.18 1.34
Four years ago, Bling Diamond, Inc., paid a dividend of $1.95 per share. Bling paid a dividend of $2.37 per share yesterday. Dividends will grow over the next five years at the same rate they grew over the last four years. Thereafter, dividends will ..
The Steel Works, Inc. is required to carry a minimum of 40 days' raw steel, which is 250 tons. It takes 15 days between order and delivery. At what level of steel would Steel Works reorder? Show calculations.
You bought a house at $312,500 and borrowed $250,000 in a fully amortizing 30 year fixed-rate mortgage at an interest rate of 7% to buy your home 5 years ago. You have lived in your home for 5 years and still have the original loan. How much could yo..
Ritz Furniture has a contribution margin ratio of 0.15. If fixed costs are $162,600, how many dollars of revenue must the company generate in order to reach the break-even point?
the exchange rate moves from 6.09 Yuan per dollar to 6.12 per dollar over the period, what is your total return on this investment?
Woidtke Manufacturing’s stock currently sells for $22 a share. The stock just paid a dividend of $1.20 a share (i.e., D0 = $1.20), and the dividend is expected to grow forever at a constant rate of 10% a year. assume the market is in equilibrium with..
Consider a firm with a debt-equity ratio of 0.40. The required rate of return on this firm’s unlevered equity is 18% and the pre-tax cost of debt is 8%. Sales, which totalled $34 million last year, are projected to remain at that level for the forese..
To calculate the number of years until maturity, What price would you expect to pay for the Kenny Corp. bond?
The text book favors Internal rate of return and Net present value. Internal rate of return because this method does consider the time value of money and looks at the cash flows over the entire life of the project. Which method is MOST preferred (and..
Suppose the risk-free rate is 9%, the rate of market return is 14%, and the beta for stock A is 1.3. What is the required return on stock A? Now suppose that the risk-free rate increases to 10%, the slope of the SML remains constant (no change in mar..
On May 8, 2013, an investor owns 100 Google shares. The share price is about $ 871 and a December put option with a strike price of $ 820 costs $ 37.50.The first involves buying one December put option contract with a strike price of $ 820. The secon..
What was the firm's 2012 operating cash flow, or OCF?
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