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FIN/571 FIN571 FIN 571 Week 2 Connect Problems

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FIN 571 Week 2 Connect Problems Complete the Week 2 Connect Problems. 1. The cash flow resulting from a firm’s ongoing, normal business activities is referred to as the: 2. Which one of these is a correct definition? . 3. If a firm is currently profitable, then: 4. It is easier to evaluate a firm using its financial statements when the firm: 5. When you are making a financial decision, the most relevant tax rate is the ____ rate. 6. Sankey, Inc., has current assets of $5,400, net fixed assets of $23,700, current liabilities of $4,700, and long-term debt of $11,500. (Do not round intermediate calculations.) What is the value of the shareholders’ equity account for this firm? Shareholders’ equity $ How much is net working capital? Net working capital $ 7. Shelton, Inc., has sales of $394,000, costs of $182,000, depreciation expense of $47,000, interest expense of $28,000, and a tax rate of 30 percent. (Do not round intermediate calculations.) What is the net income for the firm? Net income $ Suppose the company paid out $37,000 in cash dividends. What is the addition to retained earnings? Addition to retained earnings $ 8. During the year, the Senbet Discount Tire Company had gross sales of $1.19 million. The firm’s cost of goods sold and selling expenses were $538,000 and $228,000, respectively. The firm also had notes payable of $930,000. These notes carried an interest rate of 7 percent. Depreciation was $143,000. The firm’s tax rate was 40 percent. a. What was the firm’s net income? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.) Net income $ b. What was the firm’s operating cash flow? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.) Operating cash flow $ 9. Use the following information for Ingersoll, Inc., (assume the tax rate is 34 percent): 2014 2015 Sales $ 9,835 $ 10,409 Depreciation 1,325 1,326 Cost of goods sold 2,896 3,260 Other expenses 839 734 Interest 725 803 Cash 4,309 5,403 Accounts receivable 5,639 6,327 Short-term notes payable 994 946 Long-term debt 15,560 18,050 Net fixed assets 36,455 37,857 Accounts payable 4,716 4,385 Inventory 9,870 10,138 Dividends 1,156 1,251 ________________________________________ Prepare an income statement for this company for 2014 and 2015. (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16.) 10. Ratios that measure how efficiently a firm’s management uses its assets and equity to generate bottom line net income are known as _______ ratios. 11. Ratios that measure a firm’s ability to pay its bills over the short run without undue stress are known as: 12. A firm has a total debt ratio of .47. This means the firm has 47 cents in debt for every: 13. A firm has total debt of $1,440 and a debt-equity ratio of .31. What is the value of the total assets? 14. The total asset turnover ratio measures the amount of: 15. The higher the inventory turnover, the: 16. The receivables turnover ratio is measured as: 17. Which one of the following sets of ratios would generally be of the most interest to stockholders? 18. The inventory turnover ratio is measured as: 19. The quick ratio is measured as: 20. Al’s Sport Store has sales of $3,160, costs of goods sold of $2,020, inventory of $524, and accounts receivable of $401. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit? 21. Which statement expresses all accounts as a percentage o

FIN/571 FIN571 FIN 571 Week 2 Connect Problems

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