Financial statements-Garden Pro Corporation

Garden Pro Corporation has sales of $4,057,990; income tax of $474,863; the selling, general and administrative expenses of $253,320; depreciation of $397,663; costs of goods sold of $2,506,240; and interest expense of $187,649. Calculate the firms net income?

#2Homework #7E (After-Tax cash flow from selling the old asset)

Reversing Rapids Co. purchases an asset for $156,341. This asset qualifies as a five-year recovery asset under MACRS. The five-year expense percentages for years 1, 2, 3, and 4 are 20.00%, 32.00%, 19.20%, and 11.52% respectively. Reversing Rapids has a tax rate of 30%. The asset is sold at the end of four years for $10,596.

Calculate tax credit on disposal. (The answer should be entered as positive value). Round the answer to two decimals.

#3 QUIZ

Try to determine the required rate of return of king farm corporation’s common stock. The firms beta is 1.82. the rate on a 10 year treasury bond is 3.63 percent, and the market risk premium is 6.53 percent.

Round the answer to two decimal places in percentage form

#6Homework #4G (Bonds Quotes)

Assume that today’s date is February 15, 2015. Robin Hood Inc. bond is an annual-coupon bond. Par value of the bond is $1,000.  Calculate the bond’s current yield.

 Round the answers to two decimal places in percentage form. (Write the percentage sign in the “units” box).

 

Company  

Price

 

Coupon Rate

Maturity Date  

YTM

Current Yield  

Rating

Robin Hood 133.814 7.612 2-15- 2029 ? D

 

#4Homework #1C (Operating Cycle and Cash Conversion Cycle ratios)

  1. a)Canadian Bacon Inc. financial statements are presented in the table below.

Based on the information in the table, and using a 365-day year, calculate Average Credit Sales per Day.

 Round the answers to two decimal places

Balance Sheet December 31, 2012

Cash and marketable securities $198,000 Accounts payable $288,000
Accounts receivable $469,000 Notes payable $65,000
Inventories $577,000 Accrued expenses $84,000
Prepaid expenses $15,700 Total current liabilities $437,000
Total current assets $1,259,700 Long-term debt $237,000
Gross fixed assets $1,954,000 Par value and paid-in-capital $199,000
Less: accumulated depreciation $476,000 Retained Earnings $1,864,700
Net fixed assets $1,478,000 Common Equity 2,063,700
Total assets $2,737,700 Total liabilities and owner’s equity $2,737,700

 

Income Statement, Year of 2012

Net sales (all credit) $7,546,600.00
Less: Cost of goods sold $6,112,746.00
Selling and administrative expenses $349,000.00
Depreciation expense $145,000.00
EBIT $939,854.00
Interest expense $49,500.00
Earnings before taxes $890,354.00
Income taxes $356,141.60
Net income $534,212.40

Sarah purchased 100 shares of General Electric stock at a price of $56.35 three months ago. She sold all stocks today for $54.83. During the year the stock paid dividends of $3.75 per share. What is Sarah’s holding period return#5Homework #5E (HPR, Annualized holding period return, Effective annual rate on investment)

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