Show all of your work for numerical problems. 1. Based on the following information for ABC Corporation, answer each question (calculate for year 2023). Assume that price per share is $13.33 and number of shares is 175. 2022 Sales Cost of goods sold/Expenses Depreciation b. EBIT Interest Taxable Income Taxes Net Income Dividends Cash Inventory Account Receivable Current assets Net fixed assets Current liabilities Long-term debt Common stock Retained Earning 1,000 1,400 1,600 4,000 9,000 3,500 4,000 3,000 2,500 2023 8,000 4,900 600 ? 450 ? ? ? 1,370 1,200 1,600 1,800 4,600 9,200 3,700 4,300 3,050 2,750 a. What are the ABC's tax liabilities (tax payments)? Use a 21 percent (flat) tax rate. Calculate cash flow from assets (CF Generating), cash flow to creditors, and cash flow to stockholders. Check CF identity

Show all of your work for numerical problems. 1. Based on the following information for ABC Corporation, answer each question (calculate for year 2023). Assume that price per share is $13.33 and number of shares is 175. 2022 Sales Cost of goods sold/Expenses Depreciation b. EBIT Interest Taxable Income Taxes Net Income Dividends Cash Inventory Account Receivable Current assets Net fixed assets Current liabilities Long-term debt Common stock Retained Earning 1,000 1,400 1,600 4,000 9,000 3,500 4,000 3,000 2,500 2023 8,000 4,900 600 ? 450 ? ? ? 1,370 1,200 1,600 1,800 4,600 9,200 3,700 4,300 3,050 2,750 a. What are the ABC's tax liabilities (tax payments)? Use a 21 percent (flat) tax rate. Calculate cash flow from assets (CF Generating), cash flow to creditors, and cash flow to stockholders. Check CF identity

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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