Butterfly Tractors had $14.50 million in sales last year. Cost of goods sold was $8.10 million, depreciation expense was $210 million, interest payment on outstanding debt was $1.10 million, and the firm's tax rate was 21%. a. What was the firm's net income? (Enter your answers in millions rounded to 2 decimal places.) b. What was the firm's cash flow? (Enter your answers in millions rounded to 2 decimal places.) c. What would happen to net income and cash flow if depreciation were increased by $1.10 million? (Enter your numeric answers in millions rounded to 2 decimal places. Select "unaffected" if the results do not affect the balance.) . What would be the impact on cash flow if depreciation was $1.10 million and interest expense was $2.10 million? (Enter your numeric nnswer in millions rounded to 2 decimal places. Select "unaffected" if the results do not affect the balance.) Net income million a. b. Net cash flow million Net income would be by million c. Cash flow would be by million

Butterfly Tractors had $14.50 million in sales last year. Cost of goods sold was $8.10 million, depreciation expense was $210 million, interest payment on outstanding debt was $1.10 million, and the firm's tax rate was 21%. a. What was the firm's net income? (Enter your answers in millions rounded to 2 decimal places.) b. What was the firm's cash flow? (Enter your answers in millions rounded to 2 decimal places.) c. What would happen to net income and cash flow if depreciation were increased by $1.10 million? (Enter your numeric answers in millions rounded to 2 decimal places. Select "unaffected" if the results do not affect the balance.) . What would be the impact on cash flow if depreciation was $1.10 million and interest expense was $2.10 million? (Enter your numeric nnswer in millions rounded to 2 decimal places. Select "unaffected" if the results do not affect the balance.) Net income million a. b. Net cash flow million Net income would be by million c. Cash flow would be by million

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 84PSA

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