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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)
- 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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