Question 1: Winslow Enterprises has total assets of $11,700, net working capital of $1,400, owner's equity of $5,000 and long-term debt of $3,500. What is the value of the current assets?
Question 2: Gladstone, Inc., has net working capital of $4,300, long-term debt of $8,200, total debt of $10,100, and owners' equity of $12,000. What is the value of Gladstone's net fixed assets?
Question 3: Fields and Flowers had beginning retained earnings of $63,100. During the year, the company reported sales of $127,800, costs of $89,900, depreciation of $11,200, dividends of $2,800, and interest paid of $3,400. The tax rate is 35%. What is the retained earnings balance at the end of the year?
Question 4: Grunzel Potters, Inc., has net working capital of $2,100, net fixed assets of $23,600, current liabilities of $1,800, and long-term debt of $14,700. What is the value of the shareholders' equity?
Question 5: Michaela's has cash of $900 and accounts receivable of $1,300. The inventory cost $4,200 and can be sold today for $6,100. The fixed assets were purchased at a cost of $42,800 of which $18,300 has been depreciated. The fixed assets can be sold today for $19,500. What is the total book value of the assets of Michaela's?
Question 6: The financial statements of Bruce's Antiques reflects cash of $21,300, collectible accounts receivable of $37,700, accounts payable of $45,900, inventory of $63,300, long-term debt of $80,000, and net fixed assets of $123,400. The firm estimates that if they wanted to cease operations today that they could sell the inventory for $48,000 and the fixed assets for $99,000. What is the market value of the assets?
Question 7: Buster's Brooms owes $36,485 in tax on a taxable income of $136,500. The company has determined that they will owe $38,435 in tax if their taxable income rises to $141,500. What is the marginal tax rate at this level of income?
Question 8: Winston and Sons, Inc., has an operating cash flow of $141,200, depreciation expense of 89,300, and taxes paid of $76,100. A partial listing of their balance sheet accounts is as follows:
Beginning Balance Ending Balance
Current assets $146,800 $132,700
Net fixed assets $989,400 $909,400
Current liabilities $121,600 $138,700
Long-term debt $888,000 $862,500
What is the amount of Winston and Sons' cash flow from assets?
Question 9: Bruceton Enterprises has net sales of $982,500 and costs of $789,100. The depreciation expense is $124,700 and the interest paid is $23,100. What is the amount of the firm's operating cash flow if the tax rate is 34 percent?
Question 10: The Jones Brothers paid $123,600 in interest over the year, along with $88,000 in dividends. The company issued $130,000 of stock and $50,000 of new debt. During the year, the company reduced the balance due on the old debt by $435,000. What is the amount of the cash flow to creditors for the year?
Question 11: Eight months ago, the ABC Co. repurchased $125,000 of its common stock. The company pays regular dividends totaling $24,000 per quarter. What is the amount of the cash flow to stockholders for the past year?