The Starks Income Fund's average daily total assets were $100 million for the year just completed. Its stock purchases for the year were $20 million, while its sales were $12.5 million. What was its turnover?
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- Aneles Inc.’s Balance Sheet as of December 31, 2020 is as follows: In 2020, the company reported sales of 3,000,000, Net Income of 60,000, and dividends of 10,000. Sales are projected to increase by 10% next year. Both Profit Margin and the Dividend Pay-Out Ratio will remain the same. Operations are at full capacity. Assume external fund will be raised through issuances of Long-Term Obligations or Bonds. A. How much Long-term Debt will the company have to issue next year? B. If the operations are not in full capacity, what will be AFN?Suppose that Barone Corporation's sales are expected to increase from $5 million this year (year 0) to $6 million next year (year 1). Its assets totaled $2,500,000 in year 0. Barone is at full capacity, so its assets must grow in proportion to projected sales. At the end of year 0, current liabilities are $800,000, consisting of $200,000 of accounts payable, $400,000 of notes payable, and $200,000 of accrued liabilities. Barone's profit margin is forecasted to be 3.00% and the forecasted retention ratio is 25.00%. Barone seeks to forecast the additional funds needed using the AFN equation. Let A represent Barone's assets and So represent sales in year 0. Let AS represent the change in sales in from year 0 to year 1. According to the video, which of the following best represents the projected increase in assets as part of the AFN equation? -AS + AS × AS × So Using the formula from the video, the projected increase in assets, as part of the AFN equation, is(B) Based on the following information, how much does the company need in external funds for the upcoming fiscal year? The company has Sales $ 5,700, Costs 4,200, Current assets 3,900, Fixed assets 8,100, Current liabilities 2,200, Long-term debt 3,750, and Equity 6,050. Sales increase 15% for the upcoming fiscal year. Payout ratio is 40% and Tax rate is 34%.
- 1. Given the most recent financial statements for FY2023. Sales for FY2024 are expected to grow by 10 percent. The following assumption must be held in the pro forma financial statements. The tax rate (percentage), the interest expense ($ amount), and the dividend payout ratio (percentage) will remain constant. COGS, SGA, Depreciation, all current asset accounts, Net PPE, intangibles, other assets, and accounts payable increase spontaneously with sales. Calculate the pro forma value for total assets for FY24 if the firm operates at full capacity and no new debt or equity is issued. (Enter percentages as decimals and round to 4 decimals) 2. Given the most recent financial statements for FY2023. Sales for FY2024 are expected to grow by 10 percent. The following assumption must be held in the pro forma financial statements. The tax rate (percentage), the interest expense ($ amount), and the dividend payout ratio (percentage) will remain constant. COGS, SGA, Depreciation, all…The investment shown in the following figure has an annual equivalent worthof $200 at i = 8%. Determine the cash flows in periods 2, 3, 5 and 6.Given the most recent financial statements for FY2023. Sales for FY2024 are expected to grow by 10 percent. The following assumption must be held in the pro forma financial statements. The tax rate (percentage), the interest expense ($ amount), and the dividend payout ratio (percentage) will remain constant. COGS, SGA, Depreciation, all current asset accounts, Net PPE, intangibles, other assets, and accounts payable increase spontaneously with sales. Calculate the internal growth rate if the firm operates at full capacity and no new debt or equity is issued. (Enter percentages as decimals and round to 4 decimals) MSFT ($ in millions, shares in millions) Income Statement Sales COGS Gross Profit Research and Dev. SGA FY2023 211,915 65,863 146,052 27,195 16653 Depreciation 13681 Operating Income, EBIT 88,523 Interest Expense 1968 Pretax income, EBT 86,555 Taxes 16950 Net income 69,605 32,902 36,703 Retained Earnings Dividends Price per share Shares outstanding 330.24 7,430 Balance Sheet…
- The following cash flow diagram represents an investment of Php 400 and revenue of x at the end of years one and two. Given a discount rate of 15% compounded annually, what must “x” approximately be for this set of cash flows to have a net present worth of zero?Konerko, Inc., manageent expects the company to earn cash flows of $13,227, $15,611, $18,970, and $19, 114 over the next four years. If the company uses an 8 percent discount rate, what is the future value of these cash flows at the end of year 4?For the next fiscal year, you forecast net income of $49,400 and ending assets of 506,900. Your firm's payout ratio is 10.6 %. Your beginning stockholders' equity is $299,600, and your beginning total liabilities are $128,200. Your non-debt liabilities such as accounts payable are forecasted to increase by $10,500. Assume your beginning debt is $108,200. What amount of equity and what amount of debt would you need to issue to cover the net new financing in order to keep your debt-equity ratio constant?
- Compute the future worth of the following cash flows at (a) i = 3% per year, (b) i = 12% per year, if PW= $ 1581.48, compounded annually. Explain the results.The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of 36.5 days (based on a 365-day year), total current assets of $810,000, and cash and marketable securities of $120,000. What were Kretovich’s annual sales?7. Fuente, Inc., has identified an investment in which the following cash flows are deposited in the years listed. If the expected return is 8 percent, what is the future value of these cash flows at Year 4? What is the future value at a expected return of 11 percent? At 24 percent? Year Cash Flow $1,075 1,210 3 1,340 4 1,420
