round 11
nelson860
round_11.docxRound 11
#1 Homework #1A
Killer Whale, Inc has the following balance sheet statement items: total current liabilities of $884,396; net fixed and other assets of $1,955,720; total assets of $3,239,020; and long-term debt of $995,696. What is the amount of the firm’s current assets?
#2 Homework #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 operating cycle.
Round the answers to two decimal places
Balance Sheet December 31, 2014
|
Cash and marketable securities |
$132,000 |
Accounts payable |
$399,000 |
|
Accounts receivable |
$311,000 |
Notes payable |
$98,500 |
|
Inventories |
$512,000 |
Accrued expenses |
$89,300 |
|
Prepaid expenses |
$11,300 |
Total current liabilities |
$586,800 |
|
Total current assets |
$966,300 |
Long-term debt |
$799,400 |
|
Gross fixed assets |
$2,104,000 |
Par value and paid-in-capital |
$298,000 |
|
Less: accumulated depreciation |
$398,000 |
Retained Earnings |
$988,100 |
|
Net fixed assets |
$1,706,000 |
Common Equity |
1,286,100 |
|
Total assets |
$2,672,300 |
Total liabilities and owner’s equity |
$2,672,300 |
Income Statement, Year of 2014
|
Net sales (all credit) |
$4,276,600.00 |
|
Less: Cost of goods sold |
$3,292,982.00 |
|
Selling and administrative expenses |
$349,000.00 |
|
Depreciation expense |
$148,000.00 |
|
EBIT |
$486,618.00 |
|
Interest expense |
$49,600.00 |
|
Earnings before taxes |
$437,018.00 |
|
Income taxes |
$174,807.20 |
|
Net income |
$262,210.80 |
Your Answer:
#3 Homework #2C (FV and PV of a Single Amount Non-Annually)
John plans to buy a vacation home in 7 years from now and wants to have saved $79,624 for a down payment. How much money should he place today in a saving account that earns 7.18 percent per year (compounded daily) to accumulate money for his down payment? Round the answer to two decimal places
Your Answer:
#6Homework #3B (FV and PV of annuity non-annually)
You plan to buy a house in 12 years. You want to save money for a down payment on the new house. You are able to place $139 every month at the end of the month into a savings account at an annual rate of 8.63 percent, compounded monthly. How much money will be in the account after you made the last payment?
Round the answer to two decimal places.
Your Answer:
#7Homework #3C (How much will each annual payment be (Using FV or PV))
Big Brothers, Inc. borrows $283,559 from the bank at 6.25 percent per year, compounded annually, to purchase new machinery. This loan is to be repaid in equal annual installments at the end of each year over the next 4 years. How much will each annual payment be?
Round the answer to two decimal places.
Your Answer:
#8Homework #4D (YTM annually, semi-annually)
A few years ago, Spider Web, Inc. issued bonds with a 11.41 percent annual coupon rate, paid semiannually. The bonds have a par value of $1,000, a current price of $736, and will mature in 13 years. What would the annual yield to maturity be on the bond if you purchased the bond today?
Round the answer to two decimal places in percentage form. (Write the percentage sign in the "units" box)
You should use Excel or financial calculator.
Your Answer:
