Paul Dirac & Associates begin operations on 1/1/X1 by issuing a 3.00 year term (Bullet) bond with a par value of $3,800,000. The bond pays interest semi annually. On the date of issuance, the annual coupon rate of the bond is 3.000% while the annual required rate of return in the debt capital markets (the  discount rate) is 4.250%. Dirac assumes that he will earn $1,700,000 in cash revenues and incur cash operating expenses of 45.000% of revenues each 6  month period for the next 3.00 fiscal years. The corporate tax rate is assumed to be 21.00%.  Based on the information in the problem, create semi-annual pro-forma financial statements (I/S, SRE, B/S) for Dirac & Associates for the next 3 years (6  Semi-annual periods).

Horse Rocket Software has issued a five-year bond with a face value of $1,000 and a 10% coupon rate. Interest is paid annually. Similar bonds in the market have a discount rate of 12%. Illustrate the detailed cashflow and compute for the present bond value.

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On February 1, 2024, Sanyal Motor Products issued 6% bonds, dated February 1, with a face amount of $65 million. The bonds mature on January 31, 2028 (four years). • The market yield for bonds of similar risk and maturity was 8%. • Interest is paid semiannually on July 31 and January 31. • Barnwell Industries acquired $65,000 of the bonds as a long-term investment. • The fiscal years of both firms end December 31. Required: 1. Determine the price of the bonds issued on February 1, 2024. 2-a. Prepare amortization schedules that indicate Sanyal's effective interest expense for each interest period during the term to maturity. 2-b. Prepare amortization schedules that indicate Barnwell's effective interest revenue for each interest period during the term to maturity. 3. Prepare the journal entries to record the issuance of the bonds by Sanyal and Barnwell's investment on February 1, 2024. 4. Prepare the journal entries by both firms to record all events related to the bonds…