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#1: During the year, the Senbet Discount Tire Company had gross sales of $1.2 million. The firm's cost of goods sold and selling expenses were $450,000 and $225,000, respectively. Senbet also had notes payable of $900,000. These notes carried an interest rate of 9%. Depreciation was $110,000. Senbet's tax rate was 35%.
a. What was Senbet's net income?
b. What was Senbet's operating cash flow?
#2: EFN The most recent financial statements for Martin, Inc., are shown here:
Income Statement Balance Sheet
Sales $25,800 Assets $113,000 Debt $ 20,500
Costs 16,000 Equity 92,500
Taxable Income $ 9,000 Total $113,000 Total $113,000
Taxes (34%) 3,162
Net Income $ 6,138
Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,841.40 was paid, and Martin wishes to maintain a constant payout ratio. Next year's sales are projected to be $30,960. What external financing is needed?
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#3: Sustainable Growth: Assuming the following ratios are constant, what is the sustainable growth rate?
Total Asset turnover = 1.90
Profit margin = 8.1%
Equity multiplier = 1.25
Payout ratio = 30%
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#4: Ratios and Fixed Assets: The Le Bleu Company has a ratio of long-term debt to total assets of .40 and a current ratio of 1.30. Current liabilities are $900, sales are $5,320, profit margin is 9.4%, and ROE is 18.2%. What is the amount of the firm's net fixed assets?
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Solution Summary
Financial Statements Analysis is performed.
Education
- B. Sc., University of Nigeria
- M. Sc., London South Bank University
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